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LA Company has a beginning cash balance of $6,000, cash receipts of $12,000, cash payments of $7,200 and an outstanding loan balance of $1,500. Their preliminary cash balance is $

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abiolataiwo2015

Based on the information given their preliminary cash balance is $9,300.

Preliminary cash balance

Using this formula

Preliminary cash balance= Beginning cash balance + cash receipts- cash payment -outstanding loan balance

Let plug in the formula

Preliminary cash balance=$6,000+$12,000-$7,200-$1,500

Preliminary cash balance=$9,300

Inconclusion their preliminary cash balance is $9,300.

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