Check my work Tri Fecta, a partnership, had revenues of $362,000 in its first year of operations. The partnership has not collected on $46,600 of its sales and still owes $38,700 on $250,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $34,500 in salaries. The partners invested $49,000 in the business and $25,000 was borrowed on a five-year note. The partnership paid $2,750 in interest that was the amount owed for the year and paid $8,600 for a two-year insurance policy on the first day of business. Ignore income taxes. Compute the cash balance at the end of the first year for Tri Fecta. < Prev 5 of 9 Next >