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Andy Company had a cash balance of $27,000 on May 1. At the end of May, the cash balance has increased to $31,000. During the

Andy Company had a cash balance of $27,000 on May 1. At the end of May, the cash balance has increased to $31,000. During the month of May, Andy received cash of $48,000 from various sources. Based on this information, cash payments for the month of May were:

A. $31,000

B. $44,000

C. $58,000

D. $106,000

Your answer (A, B, C, or D)

Show your calculation in detail.

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