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At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $11,350; Prepaid Insurance, $400;

At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts:

Accounts Receivable, $11,350;

Prepaid Insurance, $400;

Equipment, $26,200

And Cash, $21,650

On the same date, SloMo owed the following creditors:

Simpson Supply Company, $17,000;

Allen Office Equipment, $14,500

The total amount of Liabilities is:

a) $31,500

b) $17,000

c) $14,500

d) $28,100

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