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31 October, 20:53

On June 1, 2017, Windsor, Inc. reported a cash balance of $36120. During June, Windsor made deposits of $13760 and made disbursements totaling $41280. What is the cash balance at the end of June?

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  1. 31 October, 21:23
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    The answer is $8,600

    Explanation:

    Closing cash balance at the end of June =

    Opening balance at the beginning of June plus inflow in the month minus outflow in the month.

    i. e Opening balance + inflow - outflow.

    In the example, Widsor has Opening balance of $36,120

    Inflow of $13,760

    Outflow of $41,280

    Therefore closing cash balance = $36,120 + $13,760 - $41,280

    = $8,600
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Home » Business » On June 1, 2017, Windsor, Inc. reported a cash balance of $36120. During June, Windsor made deposits of $13760 and made disbursements totaling $41280. What is the cash balance at the end of June?
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