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The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, current year.
The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, current year. The dollar amounts were taken directly from the company's accounting records and are correct. However, the balance sheet contains a number of errors in its headings, format, and the classification of assets, liabilities, and owners' equity. Prepare a corrected balance sheet
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