Question 4 Not yet answered Marked out of 5.00 Remove flag John maintains the checking account for the business he manages. He begins to perform a bank reconciliation for the month of September. The account had a normal beginning balance of $70,000. During the month, the following transactions occurred: Sept 10 Prepaid a 12-month insurance coverage for the company's vehicle by paying $1,500 cash. Sept 11 Purchased office supplies by paying $1,000 cash. Sept 16 Collected $5,000 cash from one of its clients for the services the company provided. Sept 29 Purchased merchandise in the amount of $73,000 cash. Sept 30 The cash account was charged $37 for insufficient funds by the bank. Oct 1 The company had deposited $30,000 cash into the account. Oct 5 The company takes out a $10,000 cash loan. Oct 8 A customer pays $5,500 to purchase merchandise from the company. What is the balance of the cash account at September 30? Select one: a. $44,963 (debit balance) b. $29,463 (debit balance) Oc. -$537 (credit balance) od. $39,463 (debit balance) e. -$500 (credit balance)