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Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books:
Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books:
- Andrea invested $13,800 cash in the business.
- Andrea contributed $23,000 of photography equipment to the business.
- The company paid $2,400 cash for an insurance policy covering the next 24 months.
- The company received $6,000 cash for services provided during January.
- The company purchased $6,500 of office equipment on credit.
- The company provided $3,050 of services to customers on account.
- The company paid cash of $1,800 for monthly rent.
- The company paid $3,400 on the office equipment purchased in transaction #5 above.
- Paid $305 cash for January utilities.
Based on this information, the balance in the cash account at the end of January would be:
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$19,600.
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$15,850.
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$14,945.
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$45,350.
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$11,895.
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