In the First Month of Operations for Gallowsbird Industries, the Total

question 206

Multiple Choice

In the first month of operations for Gallowsbird Industries, the total of the debit entries to the cash account amounted to $36,000 ($16,000 investment by stockholders and revenues of $20,000) . The total of the credit entries to the cash account amounted to $22,000 (purchase of equipment $8,000 and payment of expenses $14,000) . At the end of the month, the cash account has a(n)

• A) $6,000 credit balance.
• B) $6,000 debit balance.
• C) $14,000 debit balance.
• D) $14,000 credit balance.

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