Rainbow, Inc. began operations on January 1 of the current year with a $12,800 cash...
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Rainbow, Inc. began operations on January of the current year with a $ cash balance. Fifty percent of sales are collected in the month of sale; are collected in the month following sale. Similarly, of purchases are paid in the month of purchase, and are paid in the month following purchase. The following data apply to January and February: January February Sales $ $ Purchases Operating expenses If operating expenses are paid in the month incurred and include monthly depreciation charges of $ determine the change in Rainbows cash balance during February. Multiple Choice $ increase. $ increase. $ increase. $ increase. None of the answers is correct.
Rainbow, Inc. began operations on January of the current year with a $ cash balance. Fifty percent of sales are collected in the month of sale; are collected in the month following sale. Similarly, of purchases are paid in the month of purchase, and are paid in the month following purchase. The following data apply to January and February:
January February
Sales $ $
Purchases
Operating expenses
If operating expenses are paid in the month incurred and include monthly depreciation charges of $ determine the change in Rainbows cash balance during February.
Multiple Choice
$ increase.
$ increase.
$ increase.
$ increase.
None of the answers is correct.
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