On December 31, 2011, Bailey Corporation has $12,000 cash on hand and in the bank. It owns
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On December 31, 2011, Bailey Corporation has $12,000 cash on hand and in the bank. It owns other things of value, totaling $25,000. Its only debt is a bank loan of $10,000. Prepare a balance sheet for Bailey Corporation as of December 31, 2011, using the form below:
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