ABC Company which provides services to its customers engages in the following transactions during the first month of operations, January January 1 January 5 obtains a loan of $50,000. A seven-month, 9% note is signed at the bank. Furniture is purchased from a supplier at a cost of $34,200. A down payment of $10,700 is made with the remainder due by the end of January Services are provided to customers for the first half of the month, $17.500. Hall of the amount is collected in cash. Half of the amount billed of $8,750 is due by the January 16 first Week of February Jhy The remaining balance due on the furniture is paid to the supplier January 22 The balance of cash after recording the transaction on January 5 is