Use the following information to answer the question below

April 11: Sold goods for cash N50,000

April 20: Bought goods for cash N30,000

April 26: Bought postage stamp N5,000

April 28: Cash sales N49,000

April 29: Cash purchases N11,000

April 30: Paid salaries N18,000

The cash balance at the end of the period is

  • A N99,000
  • B N64,000
  • C N35,000
  • D N34,000

The correct answer is C. N35,000

cash balance = cash sales - expenses

99,000 - (30,000 + 5,000 + 11,000 + 18,000)

99,000 - 64,000 = 35,000

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