The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July. Determine the amounts that would appear in Dr. Wells’ balance sheet.
1. Owes $18,000 to the Jones Equipment Company.
2. Has cash balance of $12,500.
3. Has dental supplies of $3,150.
4. Owes $3,680 to Ace Furniture Supply.
5. Has dental equipment of $25,550.
6. Has office furniture of $7,000.
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