Tracey Sullivan begins business on May 1, 2020, with the following assets and liabilities: Cash,...
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Accounting
Tracey Sullivan begins business on May 1, 2020, with the following assets and liabilities: Cash, $5000; Accounts Receivable from Atkinson & Sons, $500; Land, $40 000; Building, $100 000; Office Equipment, $6800; Accounts Payable to Statton Builders, $2000; Mortgage on Building, $50 000.
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