A company had credit sales of $46,000 and cash sales of $12,000 during the month of May. Also during May, the company paid wages of $16,000 and utilities of $5800. It also received payments from customers on account totaling $7000. At the beginning of May, the company had a cash balance of $25,000. What is the company's cash balance at the end of May?
A) $15,200
B) $22,200
C) $37,000
D) $44,000
Correct Answer:
Verified
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