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XYZ Instruments, Inc. sells musical instruments. On December 31, 2019, after its first month of business, XYZ Instruments, Inc. had the following balances in its
XYZ Instruments, Inc. sells musical instruments. On December 31, 2019, after its first month of business, XYZ Instruments, Inc. had the following balances in its accounts, listed alphabetically.
Accounts Receivable
$ 5,000
Accounts Payable
15,000
Advertising Expense
2,000
Building
17,500
Cash
?
Common Stock
200,000
Dividends
6000
Equipment
10,000
Land
350,000
Notes Payable
50,000
Office Supplies
3,700
Salaries Expense
3,000
Service Revenue
45,000
Utilities Expense
4,050
Determine the balance in the cash account and prepare the trial balance.
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