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Problem 1: For the week, Joe's Manufacturing has a beginning cash balance of 70,000. They spend 99,000 on direct materials, 19,000 on direct labor, and 29,000 on manufacturing overhead. They also have cash sales of 10,000, accounts receivable collections of 220,000 and asset sales of 30,000. They also purchased assets in the amount of 20,000 and had sales commissions and other administrative expenses in the amount of 40,000. What was Joe's Manufacturing cash balance at the end of the week?
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