Coffee Bean Express made these estimates for the six months ending 31 December: Cash receipts from services provided $60 000 Cash payments for expenses, including rent paid in advance ($3000) 43 000 Purchase of equipment ($1500 will not be paid until February) 20 000 Depreciation of equipment 4 000 Borrowings 15 000 The cash balance at 1 July is $13 000. What is the estimated cash balance at 31 December.

Answer rating: 100% (QA)

To calculate the estimated cash balance at 31 December we need to consider the cash receipts and pay... View the full answer