A Business Has the Following Transactions: the Business Is Started $$\begin{array} { r | r } { \text { Cash } } \\\hline 20,000 & \\& 2,000 \\& 3,000 \\& 500 \\1,500 & \\\hline 16,000 &\end{array}$$

question 109

Multiple Choice

A business has the following transactions: The business is started by receiving $20,000 from the owner.The business purchases $500 of supplies on account.The business purchases $2,000 of furniture on account.The business renders services to various clients totaling $9,000 on account.The business pays out $2,000 for Salary expense and $3,000 for Rent expense.The business pays $500 to a supplier for the supplies purchased earlier.The business collects $1,500 from one of its clients for services rendered earlier in the month.At the end of the month,all journal entries are posted to the ledger.The Cash account will appear as follows:

• A)
• \[\begin{array} { r | r }

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Definitions:

Exchange Rate

The worth of one currency in terms of another for conversion purposes, indicating the amount of one currency that can be traded for a different currency.

Yen

The official currency of Japan, used in both domestic and international financial transactions.

American Money

The currency issued by the United States, primarily in the form of the US dollar ($).

Balance Of Trade

The difference between a country's exports and imports over a certain period, indicating whether a country has a surplus or deficit in trade.