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At the end of the first month of operations for slomo delivery service, the business had the following accounts: Accounts Receivable, $1230; Prepaid Insurance, $530;
At the end of the first month of operations for slomo delivery service, the business had the following accounts: Accounts Receivable, $1230; Prepaid Insurance, $530; Equipment, 36,500 and cash, $40,800. On the same date, SloMo owed the following creditors: Simpson Supply Company, $12,300; Allen Office Equipment, $9,650.
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