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Blair Scott started a sole proprietorship by depositing $35,000 cash in a business checking account. During the accounting period, the business borrowed $16,000 from a
Blair Scott started a sole proprietorship by depositing $35,000 cash in a business checking account. During the accounting period, the business borrowed $16,000 from a bank, earned $4,800 of net income, and Scott withdrew $6,000 cash from the business. Based on this information, what is the balance in Scotts capital account at the end of the accounting period? Multiple Choice
A$39,800
B$36,200
C$49,800
D$33,800
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