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Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $16,000 of

Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $16,000 of services on account, and (2) he purchased $5,300 of supplies on account. There were $850 of supplies on hand as of December 31, Year 1

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