The following account balances are taken from the December 31, 2019, financial statements of Tieman Advertising Co. The company uses accrual basis accounting. Advertising Revenue Cash Accounts Receivable Interest Expense Accounts Payable Operating Expenses Deferred Revenue Equipment Income Tax Expense $ 54,770 48,745 8,087 2,461 5, 350 44,364 1,386 21,360 2,739 The following activities occurred in 2020: 1. Performed advertising services on account, $64,800. 2. Received cash payments on account, $12,500. 3. Received deposits from customers for advertising services to be performed in 2021, $3,900. 4. Made payments to suppliers on account, $5,350. 5. Incurred $53,000 of operating expenses: $45,900 was paid in cash and $7,100 was on account and unpaid as of the end of the year. What is the balance in the Cash account at December 31, 2020? Multiple Choice $55.895