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W. Jolinson opened a hardware store on August 1, 2018. She started business with 587000 and she also have the following items in her Balance
W. Jolinson opened a hardware store on August 1, 2018. She started business with 587000 and she also have the following items in her Balance Sheet Assets: Stock $750, Equipment S6500, Bank $5923, Debtors $1950. Machinery 514200, Cast in hand $150, Premises S65000. Liabilities: Creditors $7473 In the first few days the business was in operation, the following transactions occurred August 2. Purchased a motor van on credit for 519600, August 3. Arranged a long term bank loan for S18000. This was paid into the bank account August 4, Jolinson introduced a further $10000 cash into the business August 5. Paid a creditor 55000 by cheque. August Masters sold some of the equipment on credit $2400 August 9 Received 5500 cash from a debtor Required: Prepare a Classified Balance Sheet for G. Masters as at August 31, 2018 (Arrange the Halance Sheet in the order of Permanence)
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