As of the Beginning of the Quarter, Callahan, Inc

question 270

Multiple Choice

As of the beginning of the quarter, Callahan, Inc. had a cash balance of $320. During the quarter the company paid suppliers $230. The company collected $400 from customers. The company also paid an interest payment of $40 and $170 in taxes. In addition, the company borrowed $100. What is Callahan's cash balance at the end of the quarter?

• A) $60
• B) $180
• C) $380
• D) $520
• E) $620

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