Opening balance of Diks company was #12,202, closing balance #15,300 total cash received during the period #40,000. What was the amount of cash paid during the same period?

A. #36,902
B. #27,502
C. #12,498
D. #43,098

Correct Answer:

Option A – #36,902

Explanation

opening balance = 12,202 + cash recieved = 40,000 = 52,202
less closing balance
= 52,202 – 15,300 = 36902 (Amount spent during the period)