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  3. 1. squash delight inc. had the following balance s

1. Squash Delight Inc. had the following balance sheet: Assets Cash............................................................

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Accounting

1. Squash Delight Inc. had the following balance sheet:
Assets
Cash......................................................... $75,000
Accounts receivable................................ $225,000
Capital assets............................................ $450,000
Total assets............................................... $750,000
Liabilities
Accounts payable..................................... $112,500
Notes payable............................................ $37,500
Common stock 125,000 shares................. $225,000
Retained earnings...................................... $375,000
$750,000

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