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A company's January 1, 2022 balance sheet reported total assets of $170,000and total liabilities of $70,000. During January 2022, the company completed the following transactions:
A company's January 1, 2022 balance sheet reported total assets of $170,000and total liabilities of $70,000. During January 2022, the company completed the following transactions: (A) paid a note payable using $20,000 cash (no interest was paid); (B) collected a $19,000 accounts receivable; (C) paid a $7,000 accounts payable; and (D) purchased a truck for $7,000 cash and by signing a $30,000 note payable from a bank. The company's January 31, 2022 balance sheet would report which of the following?
A company's January 1, 2022 balance sheet reported total assets of $170,000 and total liabilities of $70,000. During January 2022 , the company completed the following transactions: (A) paid a note payable using $20,000 cash (no interest was paid); (B) collected a $19,000 accounts receivable; (C) paid a $7,000 accounts payable; and (D) purchased a truck for $7,000 cash and by signing a $30,000 note payable from a bank. The company's January 31 , 2022 balance sheet would report which of the following? Multiple ChoiceStep by Step Solution
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