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1. X has the following balance sheet: Cash 10 Account Receivable 10 Inventories 10 Fixed assets 90 Total assets 120 Accounts payable 10 Notes payable
1. X has the following balance sheet:
Cash 10 Account Receivable 10 Inventories 10 Fixed assets 90 Total assets 120 | Accounts payable 10 Notes payable 20 Long-term debt 40 Common stock 40 Retained earnings 10 Total liabilities & equity 120 |
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