Carol Instruments Sells Musical Instruments Determine the Balance in the Cash Account and Prepare the Its

Essay

Carol Instruments sells musical instruments. On December 31, 2015, after its first month of business, Carol Instruments had the following balances in its accounts, listed alphabetically.
$$\begin{array} { | l | r | } \hline \text { Accounts Receivable } & \$ 5,000 \\\hline \text { Accounts Payable } & 15,000 \\\hline \text { Advertising Expense } & 2,000 \\\hline \text { Building } & 16,500 \\\hline \text { Cash } & ? ? ? \\\hline \text { Carol, Capital } & 50,000 \\\hline \text { Carol, Withdrawals } & 1,200 \\\hline \text { Equipment } & 2,000 \\\hline \text { Land } & 70,000 \\\hline \text { Notes Payable } & 60,000 \\\hline \text { Salaries Expense } & 4,000 \\\hline \text { Service Revenue } & 72,000 \\\hline \text { Office Supplies } & 3,400 \\\hline \text { Utilities Expense } & 4,100 \\\hline\end{array}$$ Determine the balance in the cash account and prepare the trial balance.