Blair Scott started a sole proprietorship by depositing $40,000 cash in a business checking account. During the accounting period the business borrowed $20,000 from a bank, earned $5,800 of net income, and Scott withdrew $7,000 cash from the business. Based on this information, at the end of the accounting period Scott's capital account contained a balance of:

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The Answer of Blair Scott started a sole proprietorship by depositing $40,000 cash in a business checking account. During the accounting period the business borrowed $20,000 from a bank, earned $5,800 of net income, and Scott withdrew $7,000 cash from the business. Based on this information, at the end of the accounting period Scott's capital account contained a balance of:

Blair Scott Started a Sole Proprietorship by Depositing $40,000 Cash