Tri Fecta, a partnership, had revenues of $373,000 in its first year of operations. The partnership has not collected on $46,200 of its sales and still owes $38,200 on $225,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $32,300 in salaries. The partners invested $50,000 in the business and $24,000 was borrowed on a five-year note. The partnership paid $1,920 in interest that was the amount owed for the year and paid $8,900 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 Tri Fecta.

Multiple Choice

• $ 175,330

• $ 183,330

• $ 170,880

• $ 178,880