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QUESTION

What is the answer to the following question?

What is the answer to the following question?

At the end of the fist month of operations for SoloMO Delivery Service, the business had the following accounts: Accounts Receivable, $1,280; Prepaid Insurance, $580: Equipment, $37,000 and cash, $41,050. On the same date, SloMo owed the following creditors: Simpson Company, $12,800; Allen Officer Equipment, $9,900.

Multiple Choice:

$42,910

$78,050

$42,330

$79,910

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