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We take a reservation for a birthday party and the group pays $20 in advance....

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Accounting

We take a reservation for a birthday party and the group pays $20 in advance. We pay our Vendors Payable. We purchase a three - period Insurance policy costing $10 per period and pay $30 in cash.

Can someone help me with to draw a balance sheet and income statement of it .i would be very grateful !

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