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On the first day of his new business Joel invests $15,500 of his own money into the business; takes out a bank loan for another
On the first day of his new business Joel invests $15,500 of his own money into the business; takes out a bank loan for another $5,000; and buys a $20,000 ********* used car with the funds. According to the "Accounting Equation", assets for this new business at the end of the first day total $20,000 none of the listed answers are correct $30,000 $15,000
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