Problem

Computing Change in CashWilkes Company had the following transactions during the current y...

Computing Change in Cash

Wilkes Company had the following transactions during the current year:

•         Earned revenues of $100,000 and incurred expenses of $56,000, all in cash.

•         Purchased a truck for $25,000.

•         Sold land for $10,000.

•         Borrowed $15,000 from a local bank.

What was the total change in cash during the year?

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