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After a company's first week of operation, its accounting system showed the following information. Calculate the company's total expenses. Total Resources Sources of Borrowed Resources

After a company's first week of operation, its accounting system showed the following information. Calculate the company's total expenses.

Total Resources

Sources of Borrowed Resources

Sources of Owner Invested Resources

Sources of Management Generated Resources

Assets

Liabilities

Stockholders' Equity

Event

Cash

Accounts Receivable

Supplies

Accounts Payable

Common Stock

Retained Earnings

Owner's cash investment

+ $6,000

+ $6,000

Service provided to customers

+ $1,200

+ $1,200

Supplies purchased

+ $900

+ $900

Service provided to customers

+ $1,000

+ $1,000

Cash partial payment for supplies previously purchased on account

- $500

- $500

Supplies used

- $400

- $400

Dividends paid to owners

- $100

- $100

Balance

$6,600

$1,000

$500

$400

$6,000

$1,700

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