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Business, 02.01.2020 21:31 rae766

Johnson waterworks corporation provides plumbing services. transactions during the first year of operations are provided below.
a) received $14,000 cash and issued common stock to mitchell johnson.
b) paid $1,300 for equipment to be used for plumbing repairs.
c) borrowed $15,000 from a local bank and deposited the money in the checking account.
d) paid $300 in rent for the year.
e) paid $400 for plumbing supplies to be used on various jobs next year.
f) completed a plumbing repair for a law firm and received $3,200.
calculate the amount of total assets at the end of the first year. assume the plumbing supplies of $400 are left at the end of the year.
a. $3,400
b. $20,200
c. $10,000
d. $12,000

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