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Question - Weimar World, a tax-preparation service, had a cash balance of $245,000 as of March 1. During the month of March, Weimar World had the following transactions.
-Billed $992,000 in revenues on credit
-Received $328,000 from customers' accounts receivable
-Incurred expenses of $388,000 but only paid $175,400 cash for these expenses
-Prepaid $64,400 for computer services to be used next month
Required - What was the company's cash balance on March 31?
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