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Dear respected sir, can you pls help me with this question?
An analysis of the cash account for a sole trader showed the following for the year.
capital introduced 300
cash takings banked 125000
expenses paid 31200
drawings 2600
cash in hand at year-end 100There were no credit sales.
What was the revenue for the year?
Prepare a little cash t-account.
Debit with the receipts (300)
Credit with the payments (125,000, 31,200, 2,600)
Enter the closing balance on the credit side (100)The missing figure to make both sides add up must be the revenue.
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