During the year, Davies Construction received $320,550 in cash and paid out $257,250 in cash. a. Do

Question:

During the year, Davies Construction received $320,550 in cash and paid out $257,250 in cash.
a. Do the data indicate that Davies Construction earned $63,300?
b. If the balance of the cash account is $82,750 at the end of the year, what was the cash balance at the beginning of the year?

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