On june 30 of the current year the assets and liabilities, Ask an Expert

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On June 30 of the current year, the assets and liabilities of Phoenix, Inc. are as follows: Cash $21,200; Accounts Receivable, $7,600; Supplies, $720; Equipment, $15,500; Accounts Payable, $10,000. What is the amount of owner's equity as of July 1 of the current year?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M956020

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