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Roofers Inc. had an operating line of credit of $100,000 and overdrew its bank balance to result in a negative cash balance of $33,000 at
Roofers Inc. had an operating line of credit of $100,000 and overdrew its bank balance to result in a negative cash balance of $33,000 at year-end. This would be reported in the statement of financial position as
a current liability of $33,000.
a non-current liability of $67,000.
a current asset of $67,000.
a current asset of $(33,000).
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