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3 The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting.
3 The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising Revenue $ 51,780 Cash 46,084 Accounts Receivable 7,810. Interest Expense 2,401 Accounts Payable 5,220 Operating Expenses 41,942 Deferred Revenue 1,310 Equipment 20, 194 2,589 Income Tax Expense The following activities occurred in 2019: 1. Performed advertising services on account, $61,250. 2. Received cash payments on account, $11,700. 3. Received deposits from customers for advertising services to be performed in 2020, $3,400. 4. Made payments to suppliers on account. $5,220. 5. Incurred $50,100 of operating expenses: $43,400 was paid in cash and $6,700 was on account and unpaid as of the end of the year. What is the balance in the Cash account at December 31, 2019?
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