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100) Help Save & Exit Tri Fecta, a partnership, had revenues of $373,000 in its first year of operations. The partnership has not collected on
100) Help Save & Exit Tri Fecta, a partnership, had revenues of $373,000 in its first year of operations. The partnership has not collected on $46,100 of its sales and still owes $38,700 on $220,000 of merchandiselt purchased. There was no inventory on hand at the end of the year. The partnership paid $32,200 in salaries. The partners invested $42,000 in the business and $24,000 was borrowed on a five-year note. The partnership paid $2,880 in interest that was the amount owed for the year and paid $9,300 for a two-year Insurance policy on the first day of business. Ignore income taxes. Compute the cash balance at the end of the first year for TH Fecta. Multiple Choice $174870 $944,620 0 $179.270
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