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As of December 31, 2020, Cancon Company Has Assets of $42,000

Question 14

Multiple Choice

As of December 31, 2020, Cancon Company has assets of $42,000 and owner's equity of $22,000. What are the liabilities for Cancon Company as of December 31, 2020?


A) $22,000
B) $20,000
C) $42,000
D) $64,000

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