The following information is taken from Harvey Company's balance sheet at December 31,2016:

$$\begin{array} { l r }
\text { Cash } & \$ 14,000 \
\text { Retained earnings } & 14,000 \
\text { Inventory } & 8,000 \
\text { Equipment } & 38,000 \
\text { Accounts payable } & 7,000 \
\text { Bonds payable } & 23,000 \
\text { Capital stock } & 26,000
\end{array}$$
Required
Using the information provided for Harvey Company,answer the following questions:
A) How much cash did creditors provide to Harvey Company?

Question

The following information is taken from Harvey Company's balance sheet at December 31,2016:
 
 $$\begin{array} { l r } 
\text { Cash } & \$ 14,000 \
\text { Retained earnings } & 14,000 \
\text { Inventory } & 8,000 \
\text { Equipment } & 38,000 \
\text { Accounts payable } & 7,000 \
\text { Bonds payable } & 23,000 \
\text { Capital stock } & 26,000
\end{array}$$ 
Required
Using the information provided for Harvey Company,answer the following questions:
 A) How much cash did creditors provide to Harvey Company?

Quizplus · Accepted Answer

The Answer of The following information is taken from Harvey Company's balance sheet at December 31,2016:
 
 $$\begin{array} { l r } 
\text { Cash } & \$ 14,000 \
\text { Retained earnings } & 14,000 \
\text { Inventory } & 8,000 \
\text { Equipment } & 38,000 \
\text { Accounts payable } & 7,000 \
\text { Bonds payable } & 23,000 \
\text { Capital stock } & 26,000
\end{array}$$ 
Required
Using the information provided for Harvey Company,answer the following questions:
 A) How much cash did creditors provide to Harvey Company?

The Following Information Is Taken from Harvey Company's Balance Sheet