in a single 5.2.9. The following information is shown in the accounting records of a company: Balances as of January 1, Year 1 $62,000 Cash 86,000 Merchandise inventory 67,000 Accounts receivable Accounts payable 53,000 Balances as of December 31, Year 1 Merchandise inventory $78,000 Accounts receivable 91,000 Accounts payable 48,000 Total sales and cost of goods sold for Year 1 were $798,000 and $583,000, respectively. All sales and all merchandise purchases were made on credit. Various operating expenses of $107,000 were paid in cash. Assume that there were no other pertinent transactions. The cash balance on December 31, Year 1, is A. $108,000 B. $149,000 C. $256,000 D. $305,000 in a singo 5.2.9. The following information is shown in the accounting records of a company: Balances as of January 1, Year 1 TOTUS $62,000 Cash 86,000 Merchandise inventory neneulbs annon Accounts receivable aladeb bs 67,000 BO 30 Accounts payable 53,000 ensad Balances as of December 31, Year 1 prionsalo Merchandise inventory $78,000 Accounts receivable 91,000 de Accounts payable 48,000 Total sales and cost of goods sold for Year 1 were vd 101 $798,000 and $583,000, respectively. All sales and all merchandise purchases were made on credit. anilor Various operating expenses of $107,000 were paid in cash. Assume that there were no other pertinent transactions. The cash balance on December 31, 32 loin Year 1, is A. $108,000 B. $149,000 C. $256.000 D. $305,000 97890