Diamond Company Had the Following Transactions During June: Performed Services

question 97

Multiple Choice

Diamond Company had the following transactions during June: Performed services for $3,000 on account; received cash on account,$8,000; paid $900 for repair expense; paid $1,600 to a supplier that it owed from the previous month.What is the combined effect on Cash of these June transactions?

• A) $5,500 increase
• B) $5,500 decrease
• C) $8,000 increase
• D) $2,500 decrease

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