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wonderpup
Sep 15, 2008, 08:24 AM
I wanted to double check my answer for a homework question:

On September 30, the Cash account of Value Company had a normal balance of $5,000.00. During September, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginnin of September?

A. a $0 balance
B. A $4,300 debit balance
C. A $4,300 credit balance
D. A $5,700 debit balance
E. A $5,700 credit balance

I came up with D. a $5,700 debit balance

thanks

Superfly999
Sep 15, 2008, 08:38 AM
Yup, you are indeed correct. It's a pretty straight forward question if you know the difference between a debit and a credit; which from the looks of it, you do ;) good luck with the rest of your homework!