Ace Builders Had the Following Transactions in June: Earned $4,000

question 85

Multiple Choice

Ace Builders had the following transactions in June: Earned $4,000 "on account;" collected $3,000 from a customer that was owed from a previous month; incurred $500 of repair expense and paid cash to the repairman; paid $1,200 to a supplier that it owed from the previous month; paid out $800 in cash drawings to the owner.
-What is the combined effect on Cash of the June transactions?

• A) Up $500
• B) Down $5,700
• C) Down $2,700
• D) Up $4,500

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