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Business, 24.02.2020 22:38 bsmith892341

At December 31, 2018, Landy Products has cash of $24,000, receivables of $18,000, and inventory of $80,000. The company’s equipment totals $182,000. Landy owes accounts payable of $22,000 and long-term notes payable of $172,000. Common stock is $34,500. Prepare Landy’s balance sheet at December 31, 2018, complete with its proper heading. Use the accounting equation to compute retained earnings.

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At December 31, 2018, Landy Products has cash of $24,000, receivables of $18,000, and inventory of $...
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