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MichaelJoult MichaelJoult
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5 years ago
Sharon Foods Company reported the following transactions for September 2017.

a)The business received a $21,000 cash contribution from the owner.  It was credited to Sharon, Capital.
b)The business purchased office equipment for $9,000 for which $4,000 cash was paid and the balance was put on a note payable.
c)Paid insurance expense of $1,500 cash.
d)Paid the September utility bill for $800 cash.
e)Paid $1,600 cash for September rent.
f)The business had sales of $12,000 in September. Of these sales, 40% were cash sales, and the balance was credit sales.
g)The business paid $8,000 cash for office furniture.

What are the total liabilities at the end of September, 2017?
A) $12,000
B) $1,500
C) $5,000
D) $9,000
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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gabi0315gabi0315
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5 years ago
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MichaelJoult Author
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5 years ago
Electric Light Bulb Correct, thanks!
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