1. Multiple choices (indicate the best answer 310=30 ) The following information relates to multiple choices 1.11.5 : Presented below is the balance sheet for Sabino Family Dentistry on January 1 of the current year. During the first few days of January, the following transactions occurred: Jan 1 The business borrowed $99,000 from the bank, giving a note payable due in 90 days. Additional capital stock was issued in exchange for $44,550 cash. Equipment was purchased for $62,700 on credit The business collected $26,400 of its accounts receivable and paid $37,950 of its accounts pay Indicate your answer to each of the following questions in the space provided: 1.1 On January 6, total assets of the business amount to: a$826,650.b$994,950c$957,000.d$950,400. 1.2 On January 6, owners' equity amounts to: a$752,400.b$44,550.c$796,950.d$895,950. 1.3 On January 6, the accounts payable balance is: a$136,950.b$36,300.c$24,750.d$99,000. 1.4 On January 6 , the accounts receivable balance is: a$24,750.b$38,775.c$77,550.d$63,525. 1.5 On January 6, the cash balance is: a$127,050.b$138,600c$165,000.d$202,950