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Business, 25.02.2020 19:42 goodclock

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

* Issued 50,000 shares of capital stock to the owners of the corporation in exchange for $600,000 cash.
* Purchased a piece of land for $400,000, making a $150,000 cash down payment and signing a note payable for the balance.
* Made a $60,000 cash payment on the note payable from the purchase of land.
* Purchased equipment on credit from BBW, Inc. for $63,000.

What is the total of Hunter Products' liabilities at the end of May?

Select one:

a. $253,000

b. $190,000

c. $63,000

d. $313,000

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Answers: 2

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