During February 2014, Its First Month of Operations, the Owner

question 149

Multiple Choice

During February 2014, its first month of operations, the owner of Schwenn Enterprises invested cash of $40,000. Schwenn had cash sales of $8,000 and paid expenses of $14,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28?

• A) $6,000 credit
• B) $34,000 debit
• C) $48,000 debit
• D) $26,000 credit