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At the end of the current accounting period, account balances were as follows: Cash, $25,000; Accounts Receivable, $42,000; Common Stock, $18,000; Retained Earnings, $10,000. Liabilities
At the end of the current accounting period, account balances were as follows: Cash,
$25,000;
Accounts Receivable,
$42,000;
Common Stock,
$18,000;
Retained Earnings,
$10,000.
Liabilities for the period were:
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