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Business, 26.11.2019 06:31 kaylakk5

Acompany was formed with $61,300 cash contributed by its owners in exchange for common stock. the company borrowed $31,300 from a bank. the company purchased $11,300 of inventory and paid cash for it. the company also purchased $71,300 of equipment by paying $10,000 in cash and issuing a note for the remainder. what is the amount of the total liabilities to be reported on the balance sheet?

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