Diamond, Inc. had the following transactions during June: Performed services for $ 4,000 on the account; received

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Diamond, Inc. had the following transactions during June:

Performed services for $ 4,000 on the account;

received cash on account, $ 4,000;

paid $ 800 for repair expenses;

paid $1,500 to a supplier that is owed from the previous month.

What is the combined effect on the Cash of these Junetransactions?

A. $4,000 increase

B. $2,300 decrease

C. $1,700 decrease

D. $1,700 increase

Related Book For answer-question

College Accounting

ISBN: 978-1111528126

11th edition

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

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Posted Date: Jul 02, 2022 04:49 AM

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Diamond, Inc. had the following transactions during June: Performed services for $ 4,000 on the account; received

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Answer The Correct option is D 1... View the full answer

College Accounting

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