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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 676 Building and equipment 925
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
Debit | Credit | |||
Accounts receivable | 676 | |||
Building and equipment | 925 | |||
Cash | 51 | |||
Interest receivable | 49 | |||
Inventory | 29 | |||
Land | 168 | |||
Notes receivable (long-term) | 459 | |||
Prepaid rent | 36 | |||
Supplies | 9 | |||
Trademark | 60 | |||
Accounts payable | 705 | |||
Accumulated depreciation | 66 | |||
Additional paid-in capital | 481 | |||
Dividends payable | 24 | |||
Common stock (at par) | 11 | |||
Income tax payable | 59 | |||
Notes payable (long-term) | 788 | |||
Retained earnings | 302 | |||
Deferred revenue | 26 | |||
TOTALS | 2,462 | 2,462 | ||
What would Symphony report as total assets?
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