During the month of November, Duffee Company had cash receipts of $3,500 and paid out $1,000 for expenses. The November 30th cash balance was $5,300. What was the cash balance on November 1?

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Chapter1: Financial Statements And Business Decisions
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During the month of November, Duffee Company
had cash receipts of $3,500 and paid out $1,000 for
expenses. The November 30th cash balance
was $5,300. What was the cash balance on
November 1?
Transcribed Image Text:During the month of November, Duffee Company had cash receipts of $3,500 and paid out $1,000 for expenses. The November 30th cash balance was $5,300. What was the cash balance on November 1?
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