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Business, 20.09.2020 09:01 Student005

A company was formed with $61,500 cash contributed by its owners in exchange for common stock. The company borrowed $31,500 from a bank. The company purchased $11,500 of inventory and paid cash for it. The company also purchased $71,500 of equipment by paying $10,000 in cash and issuing a note for the remainder. What is the amount of the total assets to be reported on the balance sheet

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A company was formed with $61,500 cash contributed by its owners in exchange for common stock. The c...
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