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Andrea Conaway opened Wonderland Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the companys books: (1.) Conaway invested $13,500 cash in the business. (2.) Conaway contributed $20,000 of photography equipment to the business. (3.) The company paid $2,100 cash for an insurance policy covering the next 24 months. (4.) The company received $5,700 cash for services provided during January. (5.) The company purchased $6,200 of office equipment on credit. (6.) The company provided $2,750 of services to customers on account. (7.) The company paid cash of $1,500 for monthly rent. (8.) The company paid $3,100 on the office equipment purchased in transaction #5 above. (9.) 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.

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