Beginning and ending Cash account balances were $9,500 and $4,000, respectively. If total cash received during the period was $18,500, what amount of cash was paid out during the period?
A) $23,000
B) $26,500
C) $24,000
D) $15,000
E) None of the above

Question

Quizplus · Accepted Answer

The cash paid out during the period can be calculated as follows:Beginning Cash Balance + Total Cash Received - Ending Cash Balance = Cash Paid Out$9,500 + $18,500 - $4,000 = $24,000

Beginning and Ending Cash Account Balances Were $9,500 and $4,000