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Question
On June 30 of the current year, the assets and liabilities of Phoenix Phildell are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of July 1 of the current year?A.$8,300
B.$13,050
C.$20,500
D.$31,100
E.$40,400
Answer
This answer is hidden. It contains 44 characters.
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