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The following transactions occurred during May, the first month of operations for Hunter Products, Incorporated:...

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Accounting

The following transactions occurred during May, the first month of operations for Hunter Products, Incorporated: Issued 57,000 shares of capital stock to the owners of the corporation in exchange for $684,000 cash. Purchased a piece of land for $470,000, making a $185,000 cash down payment and signing a note payable for the balance. Made a $67,000 cash payment on the note payable from the purchase of land. Purchased equipment on credit from BBW, Incorporated for $70,000. What is the total of Hunter Products' liabilities at the end of May? Multiple Choice $288,000 $355,000 $70,000 $218,000

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