Use T-accounts to record the transactions below, which occur on March 12, 2022, close the T-accounts, and construct a balance sheet to answer the question.

1. Sell, deliver, and receive payment of $20,000 for service 2. Consume good or service and pay expense of $2,000 3. Sell product for $25,000 in cash with historical cost of $20,000

What is the final amount in Total Assets?

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).

Use T-accounts to record the transactions below, which occur on March 12, 2022, close the Taccounts, and construct a balance sheet to answer the