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I don’t have more budget than what I put if you can’t do it for that much then don’t bid

  • Newman production services has the following transactions for the year:
  • Beginning cash balance of $45,000
  • Accounts receivable arising from credit sales of $45,000
  • Cash collections on credit sales of $30,000
  • Utility bill received but not yet paid of $5,000
  • Owner investment of $7,500
  • Owner withdrawal of $4,500
  • Cash sales amounting to $12,000
  1. What is the ending cash balance as a result of the you recording all of the above transactions?

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