After initially investing $90,000 into his consulting company, the business had the following transactions in the month of March: Fee income of $75,000 ($57,000 earned in cash and the rest charged to clients), cash purchase of office equipment for $1,500, advertising expense of $3,500, telephone expense of $475, prepaid rent of $10,000. Based on the following information the balance in the Cash ledger is?

Answer rating: 100% (QA)

Solution we need to find the cash inflows and outflows during the month of Mar... View the full answer