8 mewcorectmedios.com/tw/connect Cash basis vs Accrual basis During January 2018, the first month of operations, a consulting firm had following transactions: 3 Carmen 1 sud common stock to owners in exchange for $16,000 cash 2. Purchased $4,000 of equipment paying $800 cash and signing a promissory note for $3.200. 3. Received $7.200 in cash for consulting services performed in January 4. Purchased $1.200 of supplies on account all of the supplies were used in January 5. Provided consulting services on account in the amount of $12.800 6. Paid $600 on account 7. Paid $2.400 to employees for work performed during January 8. Received a bill for utilities for January of $2.700. the bill remains unpaid What is the amount to be reported a total abilities on the balance sheet at the end of January? Muito 56.500 $3800