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Saved Help Save & Ex Tri Fecta, a partnership, had revenues of $368,000 in its first year of operations. The partnership has not collected on
Saved Help Save & Ex Tri Fecta, a partnership, had revenues of $368,000 in its first year of operations. The partnership has not collected on $46,300 of its sales and still owes $39.100 on $250,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $25,100 in salaries. The partners invested $49,000 in the business and $21,000 was borrowed on a five-year note. The partnership paid $1.680 in interest that was the amount owed for the year and paid $9,700 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 Tn Fecta. Multiple Choice $151,520 $334,930 O $144,320 5156,370
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