Using the following information, determine the balance of the cash account. The left side of the T account sums to $34,500, and the right side of the T account sums to $19,450.

Respuesta :

Answer:

$15,050

Explanation:

T account is formed as following way:

Cash Account

The left side of the T account sums to $34,500 and the left side of the cash account is a debit.

The right side of the T account sums to $19,450 and the right side of the cash account is a credit.

Generally, the normal balance of a cash account is debit. Therefore, left side (debit) - right side (credit) = balancing amount.

Therefore, balance = $34,500 - $19,450 = $15,050

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