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Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020 1. Receive payment of $12,000 owed by a customer
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020 1. Receive payment of $12,000 owed by a customer 2. Buy $15,000 worth of manufacturing supplies on credit
Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) 14,700 Accounts Payable Cash Accounts Receivable 4,800 Debt Inventory Property Plant & Equipment 3,800 Other Liabilities 15,800 Total Liabilities 2,400 3,700 5,000 11,100 6,000 22,900 28,900 40,000 Other Assets 900 Paid-In Capital Retained Earnings Total Equity Total Assets 40,000 Total Liabilities & Equity Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020 1. Receive payment of $12,000 owed by a customer 2. Buy $15,000 worth of manufacturing supplies on credit What is the final amount in Cash? Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars. Please specify your answer in the same units as the balance sheet (i.e., enter the number from your updated balance sheet)Step by Step Solution
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