Prepare a December 31 balance sheet using the following data: The par value of the firms common
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Prepare a December 31 balance sheet using the following data:
The par value of the firm’s common stock is \($100\).
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Cash $ 4,000 Patents 82,000 Accounts payable 6,000 Accounts receivable 8,000 Taxes payable 2,000 Machinery 34,000 Bonds payable 7,000 Accumulated retained earnings 6,000 Capital surplus 19,000
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