Question: Larry Bar opened a frame shop and completed these transactions: Larry started the shop by investing $40,500 cash and equipment valued at $18,500 in exchange

Larry Bar opened a frame shop and completed these transactions:

Larry started the shop by investing $40,500 cash and equipment valued at $18,500 in exchange for common stock.

Purchased $120 of office supplies on credit.

Paid $1,700 cash for the receptionist's salary.

Sold a custom frame service and collected $5,000 cash on the sale.

Completed framing services and billed the client $250.

What was the balance of the cash account after these transactions were posted?

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