On January 4, Evergreen Market purchased and received inventory costing $5,000, paying cash.

Change the following January 3 balance sheet so that it reports the financial condition on January 4. Strike out any items that must be changed, and write the corrections above (or below) them.

Transcribed Image Text:

EVERGREEN MARKET BALANCE SHEET AS OF JANUARY 3 Assets Cash Liabilities & Equity $50,000 Note Payable.... $10,000 Berg, Capital. 40,000 Total $50,000