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Given the following accounts, please prepare the financial statements Short Answer 1. What does credit mean? 2. If a firm has $100,000 in assets and
Given the following accounts, please prepare the financial statements Short Answer 1. What does credit mean? 2. If a firm has $100,000 in assets and $60,000 in liabilities, what is the Owner's equity? 3. Identify if the following accounts are Assets (A), Liabilities(L), or Owners Equity (OE) accounts Account Payable Accounts Receivable Revenue
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