Opening balance of Diks company was #12,202, closing balance #15,300, total cash received during the period #40,000. What was the amount of cash paid during the same period?

  • A #36,902
  • B #27,502
  • C #12,498
  • D #43,098
jamb 2016accounting

The correct answer is A. #36,902

opening balance = 12,202 + cash recieved = 40,000 = 52,202

less closing balance

= 52,202 - 15,300 = 36902 (Amount spent during the period)

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