In addition to the accounts listed above truex also had a, Ask an Expert

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Truex Corporation had the following account balances as of May 1: Equipment 20,000; Notes payable 2,500; Income taxes payable, 1,500; Accounts Receivable, 6,000; Capital Stock, 20,000; Supplies, 500; Retained Earnings, 5,000; Accounts payable, 4,500.

In addition to the accounts listed above, Truex also had a Cash account. What is the amount of that Cash account as of May 1?

A) 5,000
B) 2,000
C) 7,000
D) 19,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9450518

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