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During the first month of operations, the following transactions occur for Seki's Jewellers. The owner invested $255,000 into the Business. Equipment worth $127,500 was purchased
During the first month of operations, the following transactions occur for Seki's Jewellers. The owner invested $255,000 into the Business. Equipment worth $127,500 was purchased in part by a $102,000 bank loan. Supplies totalling $25,500 were purchased by cash. Inventory of $76,500 was purchased on credit. Rent for the following three months of $51,000 was paid. What are the total assets after these transactions? (Ignore GST for this question)
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