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Basic accounting equation Qwick Care Clinic, Inc., started a business when Dr. Hamm purchased $15,000 of common stock in the business for cash. Before starting
Basic accounting equation
Qwick Care Clinic, Inc., started a business when Dr. Hamm purchased $15,000 of common
stock in the business for cash. Before starting operations, Qwick Care Clinic, Inc., borrowed
$18,000 cash by signing a note payable to 1st National Bank. Account for these two
transactions in the accounting equation.
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