Weimar World, a tax-preparation service, had a cash balance of $122,500 as of March 1, 2017. During the month of March, Weimar World had the following transactions.
$\bullet$Billed $496,000 in revenues on credit
$\bullet$Received $164,000 from customers' accounts receivable
$\bullet$Incurred expenses of $194,000 but only paid $87,700 cash for these expenses
$\bullet$Prepaid $32,200 for computer services to be used next month
What was the company's cash balance on March 31, 2017?
A) $332,000
B) $166,600
C) $ 496,000
D) $198,800
E) None of the above

Question

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The Answer of Weimar World, a tax-preparation service, had a cash balance of $122,500 as of March 1, 2017. During the month of March, Weimar World had the following transactions.
$\bullet$Billed $496,000 in revenues on credit
$\bullet$Received $164,000 from customers' accounts receivable
$\bullet$Incurred expenses of $194,000 but only paid $87,700 cash for these expenses
$\bullet$Prepaid $32,200 for computer services to be used next month
What was the company's cash balance on March 31, 2017?
A) $332,000
B) $166,600
C) $ 496,000
D) $198,800
E) None of the above

Weimar World, a Tax-Preparation Service, Had a Cash Balance of $122,500