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On June 1, 2017, Windsor, Inc. reported a cash balance of $36120. During June, Windsor made deposits of $13760 and made disbursements totaling $41280. What is the cash balance at the end of June?

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Answer:

The answer is $8,600

Explanation:

Closing cash balance at the end of June =

Opening balance at the beginning of June plus inflow in the month minus outflow in the month.

i.e Opening balance + inflow - outflow.

In the example, Widsor has Opening balance of $36,120

Inflow of $13,760

Outflow of $41,280

Therefore closing cash balance = $36,120 + $13,760 - $41,280

= $8,600

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