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During July, the Apple Farm Company received $20,000 from an investor in exchange for common stock, purchased supplies on account for $1,000, paid rent for
During July, the Apple Farm Company received $20,000 from an investor in exchange for common stock, purchased supplies on account for $1,000, paid rent for $2,000, and performed services for $5,000 cash. What is the balance in cash at the end of July?
a. $28,000
b. $23000
c.$12000
d. $22000
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