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Preparation of Corrected Balance Sheet The following balance sheet was prepared for Jared Corporation as of December 3 1 , 2 0 x 1 .

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Preparation of Corrected Balance Sheet
The following balance sheet was prepared for Jared Corporation as of December 31,20x1.
Jared Corporation
Balance Sheet
December 31,20X1
Assets
\table[[Current assets:,Liabilities and Owners' Equity],[Current liabilities:,],[Cash,$12,500,Accounts payable,$3,400
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