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7 June, 20:14

Consider the following T-account for cash.

Cash

Credit Debit

12,000 7,200

3,400 1,400

2,500 4,500

Cash Account: $4800

Specify which of the following cash transactions could have resulted in the $3,400 posting to the account. (Select all that apply.) a. Receiving cash from customers

b. Paying cash for rent

c. Repayment of debtd. Issuing stock

e. Borrowing money

f. Selling assets

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Answers (1)
  1. 7 June, 23:42
    0
    The transactions that would have resulted in the $3400 posting into the account are as follows:

    Receiving cash from customers

    Borrowing money

    Issuing stock

    Selling assets

    Explanation:

    Receiving cash from customers would be treated as a debit in cash account and a credit in accounts receivable.

    Borrowing money would treated as a debit in cash account and a credit in loan account.

    Issuing stocks would result in debit in cash account and a credit in common stock account.

    Selling assets would have a debit impact in cash account and a credit in asset disposal account.
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Home » Business » Consider the following T-account for cash. Cash Credit Debit 12,000 7,200 3,400 1,400 2,500 4,500 Cash Account: $4800 Specify which of the following cash transactions could have resulted in the $3,400 posting to the account. (Select all that apply.
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