Larry Bar opened a frame shop and completed these transactions: Larry started the shop by...
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Accounting
Larry Bar opened a frame shop and completed these transactions: Larry started the shop by investing $40,800 cash and equipment valued at $18,800 in exchange for common stock. Purchased $150 of office supplies on credit. Paid $2,000 cash for the receptionist's salary. Sold a custom frame service and collected $5,300 cash on the sale. Completed framing services and billed the client $280. What was the balance of the cash account after these transactions were posted?
Multiple Choice
$11,350.
$11,630.
$44,100.
$44,230.
$44,380.
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