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28) The following transactions relate to Max's business: 1 May Purchase of goods for resale on credit $300 2 May Max injects long term capital

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28) The following transactions relate to Max's business: 1 May Purchase of goods for resale on credit $300 2 May Max injects long term capital into the business $1,400 3 May Payment of rent made $750 5 May Max withdraws cash from the business $400 7 May Sales made on credit $1,200 The goods sold on 7" May originally cost $600. At the start of the week, the assets of the business were $15,700 and liabilities amounted to $11,200. At the end of the week, what is the amount of Max's capital? a) $5:350 b) $1,400 c) $850 d) $1,000

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