What was the 8/1/20 Cash balance?
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- Brewer Company’s controller accidentally erased the 8/1/20 balance for the Cash account. However, she can see that the 8/31/20 Cash balance is $350,000, the company collected $900,000 cash during August 2020 and paid $1,000,000 cash during August 2020. What was the 8/1/20 Cash balance?
a. $550,000
b. $350,000
c. $250,000
d. $450,000
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