Question

The Goodman Corporation completed the following transactions forthe month: 1 Owners begin company by investing $50,000 4 Purchased$5,000 of office equipment 6 Purchased $20,000 of inventory onaccount 9 Sold $17,000 of the inventory to customers for $25,000 15Paid for 25% of the inventory purchased on the 6th 20 Purchasedanother $10,000 of inventory on account 24 Sold $5,000 of theinventory to customers on account for $12,000 Based on thetransactions above, what is the company’s cash balance at the endof the month? A. 50,000 B. 65,000 C. 77,000 D. 40,000 E. None ofthe above

Explain please