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The December 3 1 , 2 0 2 1 , balance sheet of Chen, Incorporated, showed long - term debt of $ 1 , 3

The December

31, 2021,

balance sheet of Chen, Incorporated, showed long

-

term debt of $

1, 390, 000

and the December

31, 2022,

balance sheet showed long

-

term debt of $

1, 560, 000 .

The

2022

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