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The balances of Sentinel Travel Service's accounting equation items for the year ended August 31, 2016, are listed below. Barb Schroeder, the owner, invested an
The balances of Sentinel Travel Service's accounting equation items for the year ended August 31, 2016, are listed below. Barb Schroeder, the owner, invested an additional $36,000 in the business during the year and withdrew cash of $18,000 for personal use. Barb Schroeder, capital as of September 1, 2015, was $380,000. Accounts Fees earned $750,000 Office expense 295,000 Miscellaneous expense 12,000 Wages expense 450,000 Accounts payable 44,600 75,500 Accounts receivable 45,400 Cash 310,000 Land 4,700 Supplies Prepare a balance sheet as of August 31, 2016. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading
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