At the beginning of the period, FDN Trading had a cash balance of P22,000 and a notes payable of P17,000. During the period, the business collected P16,000 accounts receivable, paid P9,000 notes payable, and issued additional notes payable of P6,000 in exchange for cash. How much is the ending balance of cash?

At the beginning of the period, FDN Trading had a cash balance of P22,000 and a notes payable of P17,000. During the period, the business collected P16,000 accounts receivable, paid P9,000 notes payable, and issued additional notes payable of P6,000 in exchange for cash. How much is the ending balance of cash?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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