Missing amount from an account
On July 1, the cash account balance was $37,450. During July, cash payments totaled $115,860 and the July 31 balance was $29,600. Determine the cash receipts during July.
T-account:
An account is referred to as a T-account, because the alignment of the components of the account resembles the capital letter ‘T’. T-account consists of the three main components which are as follows:
The cash receipts during the month of July.
Working notes:
Financial & Managerial Accounting
Corporate Financial Accounting
Cornerstones of Financial Accounting
Accounting Information Systems
Fundamentals of Financial Management (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
Principles of Economics (MindTap Course List)
Probability and Statistics for Engineering and the Sciences
Fundamentals Of Financial Management, Concise Edition (mindtap Course List)
Essentials of Business Communication (MindTap Course List)
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Brief Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
Foundations of Business (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
Financial And Managerial Accounting
Financial Accounting
College Accounting, Chapters 1-27
Essentials of Economics (MindTap Course List)
Management, Loose-Leaf Version
College Accounting (Book Only): A Career Approach
Accounting Information Systems
Intermediate Accounting: Reporting And Analysis
Managerial Accounting: The Cornerstone of Business Decision-Making
Contemporary Marketing
MKTG 12:STUDENT ED.-TEXT
Financial Accounting
Financial & Managerial Accounting
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting (Book Only): A Career Approach
Pkg Acc Infor Systems MS VISIO CD
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
Exploring Economics
Principles of Macroeconomics (MindTap Course List)
Statistics for Business & Economics, Revised (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
Corporate Financial Accounting
Survey of Accounting (Accounting I)
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Economics (MindTap Course List)
Macroeconomics
Economics For Today
Practical Management Science
Cornerstones of Cost Management (Cornerstones Series)
Purchasing and Supply Chain Management