X Company is a merchandiser and prepares monthly financial statements. The following is its balance sheet at the beginning of January:

Balance Sheet

January 1

Assets		Equities
Cash	$52,864	Accounts Payable	$53,842
Accounts Receivable	30,569	Wages Payable	1,147
Inventory	81,221	Notes Payable	34,975
Prepaid Rent	6,444	Paid-In Capital	249,018
Equipment	241,071	Retained Earnings	73,187
Total Assets	$412,169	Total Equities	$412,169

The following summary transactions occurred during January:

Sold stock to investors for $45,000.

Borrowed $26,000 from a bank.

Bought merchandise from suppliers, paying $3,330 and promising to pay $5,301 next month.

Bought equipment from a manufacturer, paying $33,400 and promising to pay $5,000 in three months.

Paid $3,707 to merchandise suppliers that it had promised to pay.

Sold merchandise, receiving $17,197 cash and promises to pay of $4,353; the merchandise that was sold previously cost $10,775.

Paid a total of $530 for rent and insurance in advance.

Received $2,564 from customers who had promised to pay.

Paid $5,370 for wages, utilties, and other miscellaneous expenses.

Note: Ignore adjusting entries. 4. What was the cash balance on January 31?