Invance Corp Began The Month Of April With A Cash Balance Of 21 000 During April

Invance Corp. began the month of April with a cash balance of $21,000. During April the company reported net income of $15,000. The following merchandise sales and purchases and cash receipts and cash payments occurred during April:

Purchased merchandise at a cost of $48,000 on credit

Sold merchandise with a cost of $36,000 on credit for $60,000

Made payments to creditors for merchandise purchases of $56,000

Collected $50,000 from credit customers

What is the balance of the cash account at April 30?

How do you get the answer 15,000?

Need your ASSIGNMENT done? Use our paper writing service to score good grades and meet your deadlines.

Order a Similar Paper Order a Different Paper