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Mabel Wong started a professional practice and had the following financial transactions in July: She invested $50,000 cash and $10,000 in used furniture. She paid $25,000 rent for an office, including a $500 water bill. She purchased $120,000 in equipment on credit. She earned $32,000 from one client and billed another $27,000. She paid an assistant $6,200 in wages and withdrew $5,000 for personal use.

Author

Mark Calimlim

Language

EN