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Park & Company was recently formed with a $5,100 investment in the company by stockholders in exchange for common stock. The company then borrowed $2,100
Park & Company was recently formed with a $5,100 investment in the company by stockholders in exchange for common stock. The company then borrowed $2,100 from a local bank, purchased $1,010 of supplies on account , and also purchased $5,100 of equipment by paying $2,010 in cash and signing a promissory note for the balance. Based on these transactions, the company's total assets are: Multiple Choice $10,200 $9.210 $7,200 $11,300
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