Ace, Inc. had the following transactions during June:
Performed services for $5,000 on account; received cash on account, $7,000; paid $600 for repair expense; paid $2,000 to a supplier that it owed from the previous month
What is the combined effect on Cash of the June transactions?
A) $4,400 increase
B) $4,400 decrease
C) $7,000 increase
D) $2,600 decrease
A .Cash = $7,000 - $600 - $2,000 = $4,400 increase
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