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Business, 06.12.2020 20:20 Luzperez09
On December 31, 2013, Elite Inc. has the following ledger balances:
cash: $5,000, accounts receivable: $25,000, stock: $10,000, bank balance: $15,000, wages payable: $10,000, salaries: $20,000, bank loan: $40,000, equity capital: $150,000, interest, payable: $5,000, building: $100,000, machinery: $80,000, purchases: $20,000, and sales: $70,000.
If the business prepares a trial balance, what is the amount at which it shows a balance of debits and credits?
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On December 31, 2013, Elite Inc. has the following ledger balances:
cash: $5,000, accounts receivab...
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