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The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. $ 50,596
The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. $ 50,596 Advertising Revenue Cash 45,030 Accounts Receivable 7,697 Interest Expense 2,378 Accounts Payable 5,170 Operating Expenses 40,983 Deferred Revenue 1,280 Equipment 19,732 Income Tax Expense 2,530 The following activities occurred in 2019: 1. Performed advertising services on account, $59,850. 2. Received cash payments on account, $11,400. 3. Received deposits from customers for advertising services to be performed in 2020, $3,200 de payments to suppliers on account, $5,170. 5. Incurred $49,000 of operating expenses; $42,500 was paid in cash and $6,500 was on account and unpaid as of the end of the year. 4. What is the balance in the Cash account at December 31, 2019? Multiple Choice $45,030 $49,913 $11,960 $51,260
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