Andrea Apple Opened Apple Photography on January 1 of the Current

Multiple Choice

Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books: • Andrea invested $13,500 cash in the business in exchange for common stock.
• Andrea contributed $20,000 of photography equipment to the business.
• The company paid $2,100 cash for an insurance policy covering the next 24 months.
• The company received $5,700 cash for services provided during January.
• The company purchased $6,200 of office equipment on credit.
• The company provided $2,750 of services to customers on account.
• The company paid cash of $1,500 for monthly rent.
• The company paid $3,100 on the office equipment purchased in transaction #5 above.
• Paid $275 cash for January utilities.
Based on this information, the balance in the cash account at the end of January would be:

A) $41,450.
B) $12,225.
C) $18,700.
D) $15,250.
E) $13,500.