Question
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 661 Building and equipment 933
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 661 Building and equipment 933 Cash 48 Interest receivable 45 Inventory 30 Land 156 Notes receivable (long-term) 494 Prepaid rent 31 Supplies 10 Trademark 42 Accounts payable 705 Accumulated depreciation 70 Additional paid-in capital 473 Dividends payable 20 Common stock (at par) 14 Income tax payable 49 Notes payable (long-term) 806 Retained earnings 287 Deferred revenue 26 TOTALS 2,450
What would Symphony report as total assets?
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