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Before the Journal Entry Above, Martin Had Assets of $900,000;

Question 32

Multiple Choice

Before the journal entry above, Martin had assets of $900,000; liabilities of $460,000; and owners' equity of $440,000. Total assets immediately after the above transaction has been recorded amount to:


A) $905,000.
B) $921,000.
C) $956,000.
D) $794,000.

Correct Answer:

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