At the close of business on December 31, 2011, Dowling Company had $3,750 in its bank account.
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At the close of business on December 31, 2011, Dowling Company had $3,750 in its bank account. It owned other assets totaling
$30,000. The company owed $11,750 to creditors. Its equity was
$22,000. Complete the balance sheet for Dowling Company:
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