Tennison Corporation had the following transactions in its first year of operations: ...
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Accounting
Tennison Corporation had the following transactions in its first year of operations:
| Sales (90% collected in year) | $ | 1,730,000 | |
| Bad debt write-offs | 71,000 | ||
| Disbursements for production costs and other expenses | 1,310,000 | ||
| Disbursements for income taxes | 101,000 | ||
| Purchases of fixed assets | 510,000 | ||
| Depreciation of fixed assets | 91,000 | ||
| Proceeds from issuance of common stock | 610,000 | ||
| Proceeds from short-term borrowings | 111,000 | ||
| Payments on short-term borrowings | 61,000 | ||
What is the cash balance at year-end?
$267,000.
$247,000.
$377,000.
$296,000.
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