Tri Fecta, a partnership, had revenues of $380,000 in its first year of operations. The partnership has not collected on $46,100 of its sales and still owes $38,000 on $155,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $25,400 in salaries. The partners invested $49,000 in the business and $25,000 was borrowed on a five-year note. The partnership paid $3,000 in interest that was the amount owed for the year and paid $10,000 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. ( 8 01:54:57 Multiple Choice O $ 246,900 0 $ 252,500 0 $ 265,600 0 $ 260,600