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A company's January 1, 2019 balance sheet reported total assets of $167,000 and total liabilities of $68,500. During January 2019, the company completed the following
A company's January 1, 2019 balance sheet reported total assets of $167,000 and total liabilities of $68,500. During January 2019, the company completed the following transactions: (A) paid a note payable using $18,500 cash (no interest was paid); (B) collected a $17,500 accounts receivable; (C) paid a $6,700 accounts payable; and (D) purchased a truck for $6,700 cash and by signing a $28,500 note payable from a bank. The company's January 31, 2019 balance sheet would report which of the following?
Multiple Choice
A
Assets | Liabilities | Stockholders's Equity |
$170,300 | $71,800 | $98,500 |
B
Assets | Liabilities | Stockholders's Equity |
$167,000 | $68,500 | $98,500 |
C
Assets | Liabilities | Stockholders's Equity |
$177,000 | $90,300 | $86,700 |
D
Assets | Liabilities | Stockholders's Equity |
$195,500 | $128,900 | $66,600 |
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