Jenkins Company Began Business in June When Stockholders Invested $85,000

Multiple Choice

Jenkins Company began business in June when stockholders invested $85,000 in the business, which in turn issued its common stock to them. Jenkins Company then purchased a building for $40,000 cash and inventory for $21,000 cash, performed services for clients for $10,000 cash, purchased supplies for $10,000 cash, and paid utilities of $7000 cash. What is the amount of cash at the end of June?

A) $24,000
B) $17,000
C) $34,000
D) $38,000