Question

During the month, Warwick Co. received $515,000 in cash and paid out $375,000 in cash.
a. Do the data indicate that Warwick Co. had net income of $140,000 during
the month? Explain.
b. If the balance of the cash account is $200,000 at the end of the month, what was the
cash balance at the beginning of the month?

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Financial Accounting

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