Assets Liabilities and Owner's Equity Cash $ 15,000 Accounts Payable $ 4,750 Equipment $ 6,000 Owner's Equity: Investment $ 16,250 Total Assets $ 21,000 Total Liabilities and Owner's Equity $ 21,000 a. From cash purchase equipment for $1,000 b. Pay $3,000 from cash for accounts payable c. Take $750 cash for a salary. Enter the new figures (net changes) where appropriate.
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