Bretagne LLC conducts in-residence training for sailboat racers. As of the start of the current month, June, the LLCs balance sheet was as follows: Assets Cash $12,000 Accounts Receivable $14,000 Property & Equipment $15,000 Liabilities Accounts Payable $5,000 Business Loan Payable $12,000 Owners Equity $24,000 If only the following transactions occur during the month, what is the balance in cash at the end of the month? 1. Buys a new Hobie sailboat for $9,000 funded by a new business loan 2. Pays all amounts due from the LLC at the start of the month 3. Collects $12,000 that was due to the LLC at the start of the month 4. Invoices clients $1,000 for work performed, will be paid the following month.