On may 1 vaya corp had a beginning cash balance of 175, Finance Basics

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On may 1 vaya corp had a beginning cash balance of 175

Question: On May 1, Vaya Corp. had a beginning cash balance of $175. Vaya's sales for April were $420 and May sales were $480. During May, the firm had cash expenses of $110 and made payments on accounts payable of $290. Vaya collect 50% for the month of sales and 50% for the month following the month of sales. What is the firm's beginning cash balance on the end of May?

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Finance Basics: On may 1 vaya corp had a beginning cash balance of 175

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Finance Basics: On may 1 vaya corp had a beginning cash balance of 175

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