Business, 02.03.2020 23:43 alexius6608

During its first month of operations, Donald Company borrowed $100,000 from a bank, and then purchased an equipment costing $40,000 by paying cash of $20,000 and signing a long term note for the remaining amount. During the month, the company also purchased Inventory for $30,000 on credit, performed services for clients for $10,000 on account, paid $15,000 cash for accounts payable, and paid $30,000 cash for utilities.

What is the amount of total assets at the end of the month?

Select one:

A. $125,000

B. $115,000

C. $135,000

D. $ 95,000

Answers: 1

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During its first month of operations, Donald Company borrowed $100,000 from a bank, and then purchas...

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