The following selected accounts and their current balances appear in the ledger of Hobbs' Co. for the fiscal year ended June 30, 2008:obj. 3

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Cash Accounts Receivable Merchandise Inventory Office Supplies Prepaid Insurance Office Equipment $ 68,850 Accumulated Depreciation- 55,800 90,000 2,340 6,120 57,600 Store Equipment Store Equipment Accounts Payable Office Equipment $ 9,720 105,750 Accumulated Depreciation- 43,740 24,300