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Olive Co. began the month with Assets of $400, Liabilities of $120, Equity of $280. On Day 1, it sold $10 of inventory to customers
Olive Co. began the month with Assets of $400, Liabilities of $120, Equity of $280. On Day 1, it sold $10 of inventory to customers for $35 on account (i.e. on credit). Use the information provided to compute Olive Co's TOTAL ASSETS AS OF the END of the day on Day 1. $390 $435 $425 $365
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