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Find what the balance of cash ledger account would be

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Reference no: EM132829932

The information below relates to Almosa Real Estate Agency:

1st Oct: Stockholders invested $34,000 in exchange for common stock of the agency.

2nd Oct: Hires an administrative assistant who will start working from the 15th of November at an annual salary of $36,000.

3rd Oct: Buys equipment for $3,500 on account.

10th Oct: Receives $1400 in commission for acting as rental agent renting an apartment.

27th Oct: Pays $1,500 for the equipment purchased on October 3.

28th Oct: Pays the employees $3,000 in salaries for October.

30th Oct: Pays dividends of $3,000 to the stockholders .

Problem 1: From the transactions above, the balance of Cash ledger account would be:

a. 27,900

b. 28,900

c. 26,400

d. 28,400

e. 29,900

f. 26,900

g. The correct answer is not available

h. 25,900

i. 27,400

Reference no: EM132829932

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