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Bloomfield Company issued stock for $30,000 cash on January 20, 2012. During 2012, the company recorded revenue on account of $12,000 and expenses on account
Bloomfield Company issued stock for $30,000 cash on January 20, 2012. During 2012, the company recorded revenue on account of $12,000 and expenses on account of $5,500. Bloomfield received $8,200 cash from accounts receivable and paid $4,500 on the accounts payable. The company also purchased land for $5,000 cash. The beginning cash balance was zero. Based on this information, the amount of cash at the end of the year is
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