Supposing no other transactions impacted the cash account

Reference no: EM13459703

During February 2010, its first month of operations, the owner of Schwenn Enterprises invested cash of $25,000. Schwenn had cash sales of $4,000 and paid expenses of $7,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28?

a) $3,000 credit

b) $22,000 debit

c) $29,000 debit

d) $18,000 credit

Reference no: EM13459703

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