(Learning Objective 1: Analyzing the effects of transactions) Young Software began with cash of $13,000. Young then...

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(Learning Objective 1: Analyzing the effects of transactions) Young Software began with cash of $13,000. Young then bought supplies for $1,800 on account. Separately, Young paid $4,000 for a computer. Answer these questions.

a. How much in total assets does Young have?

b. How much in liabilities does Young owe?

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