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On December 30, a firm's balance sheet showed assets of $390,000, liabilities of $180,000, and owners equity of $210,000. On December 31 the firm (1)
On December 30, a firm's balance sheet showed assets of $390,000, liabilities of $180,000, and owners equity of $210,000. On December 31 the firm (1) paid off Accounts Payable of $49,000, and (2) paid rent of $16,000 due on their building. If a new balance sheet is prepared after these transactions, assets, liabilities, and owners equity, respectively, would be equal to:
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