X Company, a merchandising company, had the following transactions during 2020: Received $8,539 from new owners. Purchased $8,833 worth of merchandise on account from suppliers. Sold merchandise on account to customers for $12,323; the merchandise cost X Company $9,858. Paid $3,145 to suppliers for merchandise that X Company had previously purchased on account. Collected $3,106 from customers who had previously purchased merchandise on account. Bought equipment for $10,254 with a down payment of $5,281 and a $4,973 loan from the bank. Paid wages of $1,092. Recognized the expiration of $561 of prepaid rent. 8. If total assets at the beginning of 2020 were $14,343, what were total assets at the end of 2020? $34,355 You are correct. Your receipt no. is 163-1847 Previous Tries 9. If total liabilities at the beginning of 2020 were $3,801, what were total liabilities at the end of 2020? Submit Answer Incorrect. Tries 1/3 Previous Tries 10. What was Net Income in 2020? Submit Answer Tries 0/3