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[The following information applies to the questions displayed below.] The following accounts are taken from the December 31,2013, financial statements of A to Z Advertising
[The following information applies to the questions displayed below.] The following accounts are taken from the December 31,2013, financial statements of A to Z Advertising Company: Advertising revenue $ 57,138 Cash 50,853 Accounts receivable 8,313 Interest expense 2,507 Accounts payable 5,450 Operating expenses 46,282 Equipment 22,284 Income tax expense 2,857 The following activities occurred in 2014: 1. Billed customers for advertising services rendered, $67,600. 2. Received cash from customers in payment of their accounts, $13,100. 3. Incurred $55,300 of operating expenses of which $47,900 was paid in cash and $7,400 was on account and unpaid as of the end of the year. 4. Paid suppliers $5,450 on the accounts payable. 5. Received deposits from customers of $4,300 for advertising services to be performed in 2015. The firm uses accrual basis of accounting: 4. What is the balance in the Cash account at December 31, 2014?$56,192 $50,853$14,903 $58,503
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