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At the End of the Current Accounting Period, Account Balances

Question 45

Multiple Choice

At the end of the current accounting period, account balances were as follows: Cash, $15,000; Accounts Receivable, $20,000; Common Stock, $8,000; Retained Earnings, $14,000. Liabilities for the period were:


A) $13,000.
B) $20,000.
C) $27,000.
D) $32,000.

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