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XY is setting up a new business. Before actually selling anything, he bought a van for $4,500, a market stall for $2,000 and a Inventory
XY is setting up a new business. Before actually selling anything, he bought a van for $4,500, a market stall for $2,000 and a Inventory of goods for $1,500. He did not pay in full for his Inventory of goods and still owes $1,000 in respect of them. He borrowed $5,000 from C Fox. After the events just described, and before trading starts, he has $400 cash in hand and $1,100 cash at bank. Calculate the amount of his capital using Accounting equation.
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