The December 31, 1997, balance sheet of Smedley Company is provided below. Assets $70,000 Liabilities $15,000 _
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The December 31, 1997, balance sheet of Smedley Company is provided below. Assets $70,000 Liabilities $15,000 _ Stockholders’ equity 55,000 Total liabilities and Total assets $70,000 stockholders equity $70,000 During 1998 the company entered into the following transactions.
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