During February 2020, its first month of operations, the owner of Solcist Co. invested cash of $50,000. Solcist had cash revenues of $16,000 and paid expenses of $21,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 29?

Question

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The cash balance is calculated as the initial investment ($50,000) plus cash revenues ($16,000) minus cash expenses ($21,000), resulting in a balance of $45,000 debit.

During February 2020, Its First Month of Operations, the Owner