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net cash flows from financing activities is $60,000
The required details for Cash Account in given paragraph
How Do I Open a Cash Account?
To balance an account, just add up its debit and credit sides, then subtract the smaller (with a lower total value) side from the bigger side. The balance of the account is the difference between the two sides.
Any securities transactions must be paid in full from monies in the account at the time of settlement if the account is a cash one with a brokerage company. Thus, with this form of account, short selling and buying on margin are prohibited. Cash accounts and margin purchases of securities are governed by Regulation T of the Federal Reserve. Investors have two business days to pay for security under this legislation. T+2 is the name of it.
A ledger in which all cash transactions are documented is referred to as a cash account or cash book in accounting. The cash account contains both the cash receipts and payments journals.
To know more about balance of cash account in given link
https://brainly.com/question/14541900
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