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! Required information [The following information applies to the questions displayed below) Griffin Service Company, Inc., wa
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Answer #1

Assets $147,100 Liabilities $25,500 + Stockholders Equity $121,600

Assets Consist = Cash + Notes Receivable + Equipment + Land

Working Note:

Beg. Bal. (a) $8,500 $4,100 (d) Cash $0 (b) $86,000 (e) $4,600 End. Bal. $90,600 $78,000 $90,600 Beg. Bal. (e) Notes Receivab

Note: Transaction c and e will not be recorded since that is not a transaction/business transaction.

I hope this clear your doubt.

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