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What was the balance of the cash account

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Reference no: EM133010371

Andy Park opened a frame shop and completed these transactions:

  • Andy started the shop by investing P40,000 cash and equipment valued at P18,000.
  • Purchased P70 of office supplies on credit.
  • Paid P1,200 cash for the receptionist's salary.
  • Sold a custom frame service and collected P1,500 cash on the sale.
  • Completed framing services and billed the client P200.

Problem 1: What was the balance of the cash account after these transactions were posted?

Reference no: EM133010371

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