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baeethtsadia
baeethtsadia
31.10.2019 • 
Business

You started a business with $20,000 cash. you made a sales of $30,000 and your net profit is $10,000. your closing cash balance is $12,000. you feel your profit calculation is incorrect. what could be the reasons for having a lower closing cash balance? most of your sales are on credit. you have purchased equipment for 12,000 cash. your calculations are incorrect. you paid all your operating expenses (other than depreciation) in cash.

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