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At the start of the year, the owner of the business contributed P75,000 as its initial capital. The following is the summary of transactions during the year. Purchased supplies for cash, P30,000; Purchased equipment amounting to P80,000, 25% down payment and the balance on account: Services rendered for cash, P60.000; Paid electric bill, P5,000; and Services rendered on account, P3,000. Determine the cash balance at the end of the period