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H3Ko H3Ko
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7 years ago
Ace, Inc. had the following transactions during June:

Performed services for $5,000 on account; received cash on account, $7,000; paid $600 for repair expense; paid $2,000 to a supplier that it owed from the previous month. What is the combined effect on Cash of the June transactions?
A) $4,400 increase
B) $7,000 increase
C) $4,400 decrease
D) $2,600 decrease
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
3 years ago
Nice
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