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What is the closing balance of cash at the end of the day

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Question - Salvatore decided to start a small business in order to help pay for a forthcoming holiday. As there was an imminent threat of a strike by power company workers, he decided to buy and sell oil lamps on his local high street. He began on 1 May by investing £150 cash of his own money to buy 30 lamps for £5 each. On the same day, he was able to sell 24 lamps for £8 each in cash. What is the closing balance of cash at the end of the day's trading on 1 May?

Reference no: EM132959053

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