Cudahy Company had the following transactions: 1. The owner started the company by investing $10,000 of cash. 2. The company paid $2,000 for six months of rent. The rent was paid in advance. 3. The...

Extracted text: Cudahy Company had the following transactions: 1. The owner started the company by investing $10,000 of cash. 2. The company paid $2,000 for six months of rent. The rent was paid in advance. 3. The company acquired $3,000 in inventory for cash. 4. The company sold inventory costing $1,400 for $2,900 on account. After all these transactions, what is the balance in the cash account? A) $2,100 B) $3,500 C) $5,000 D) $8,000