The business completed these transactions:
1. Investing $20,000 cash and a building valued at $100,000.
2. Purchased $10,000 of a truck on credit.
3. Paid $20,000 cash for raw material.
4. Selling products and collected$40,000 cash.
What was the balance of the cash account after these transactions were posted?
a. $130,000
b. $30,000
c. $40,000
d. $140,000
e. $120,000
Answer: C
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