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What is the cash balance on December

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Reference no: EM132625709

Question - These are the following records of a company

January 1 -

Cash 186000

Accounts Receivable 201000

Merchandise Inventory 159000

Accounts Payable 159000

December 31 -

Accounts Receivable 273000

Merchandise Inventory 234000

Accounts Payable 144000

Total sales are 2394000

COGS are 1749000

All sales and purchases were made on credit.

Operating Expenses 321000 are paid on cash.

Required - What is the cash balance on December 31?

 

Reference no: EM132625709

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