Business, 21.09.2019 01:10 albattatasraap5wymy

Tri fecta, a partnership, had revenues of $362,000 in its first year of operations. the partnership has not collected on $46,400 of its sales and still owes $38,600 on $200,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $28,100 in salaries. the partners invested $42,000 in the business and $30,000 was borrowed on a five-year note. the partnership paid $2,700 in interest that was the amount owed for the year and paid $9,900 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.

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Tri fecta, a partnership, had revenues of $362,000 in its first year of operations. the partnership...

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