12.A business is formed at the beginning of March (20,000 shares of common stock are issued for $20,000).During March the business purchases equipment on account for $25,000; they purchase material on account for $15,000; they pay payroll costs of $5,000; and they pay other operating expenses of $7,000.

Calculate the balance in the cash account at the end of March ________________ (be sure to indicate if it is a debit or credit balance)