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(a) J. Hill has the following assets and liabilities on 30 November 2022: Accounts payable $2,800; Equipment $6,200; Car $7,300; Inventory $8,100; Accounts Receivable

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(a) J. Hill has the following assets and liabilities on 30 November 2022: Accounts payable $2,800; Equipment $6,200; Car $7,300; Inventory $8,100; Accounts Receivable $4,050; Cash at bank $9,100; Cash in hand $195. You are not given the capital amount at that date. During the first week of December 2022, the following transactions took place: - (i) Hill bought extra equipment on credit for $110. (ii) Hill bought extra inventory by cheque for $380. (iii) Hill paid creditors by cheque $1,150. (iv) Debtors paid Hill $640 by cheque and $90 by cash. Hill put an extra $1,500 into the business, $1,300 by cheque and $200 in cash. (v) REQUIRED: Illustrate the Statement of Financial Position as at 7 December 2022 after the above transactions have been completed.

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