Yowell Company began operations on January 1, Year 1 . During Year 1 , the...
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Yowell Company began operations on January 1, Year 1 . During Year 1 , the company engaged in the following cash transactions: 1) issued stock for $56,000 2) borrowed $33.000 from its bank 3) provided consulting services for $55,000cash 4) paid back $23,000 of the bank loan 5) paid rent expense for $13,000 6) purchased equipment for $20,000 cash 7) paid $3,800 dividends to stockholders 8) pald employees' salaries of $29,000 What is Yowell's notes payable balance at the end of Year 1 ? What is Yowell's notes payable balance at the end of Year 1? Multiple Choice $10,000 $0 $23,000 $33,000
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