In the first month of operations for Pocket Industries, the total of the debit entries...
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Accounting
In the first month of operations for Pocket Industries, the total of the debit entries to the cash account amounted to $9,000 ($5,000 investment by the owner and revenues of $4,000). The total of the credit entries to the cash account amounted to $5,000 (purchase of equipment $2,000 and payment of expenses $3,000). At the end of the month, the cash account has a(n)
a. $2,000 credit balance.
b. $2,000 debit balance.
c. $3,000 credit balance.
d. $4,000 debit balance.
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