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On April 1, 2023, Jimmy Kalinowski organized the consulting firm of Uncle Inc., which uses cash basis accounting. The following cash transactions were completed during

On April 1, 2023, Jimmy Kalinowski organized the consulting firm of Uncle Inc., which uses cash basis accounting. The following cash transactions were completed during the month of April: Jimmy contributed $15,000 cash in exchange for 100% of the common stock of Uncle Inc. Uncle Inc. borrowed $5,000 by issuing a Note Payable to River North Bank Uncle Inc. received $6,560 in fees from clients for services performed during the month of April Uncle Inc. paid salaries for the month of April of $3,881.


Compute Uncle Inc.'s ending balance in cash on April 30, 2023, after all transactions have been recorded.

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