Assume a company's January 1,20A,financial position was: Assets,$40,000 and Liabilities,$15,000.During January 20A,the company completed the following transactions: (a)paid on a note payable,$4,000 (no interest); (b)collected tradereceivables,$4,000; (c)paid trade payables,$2,000; and (d)purchased a truck,$1,000 cash,and $8,000 notes payable.What is the company's January 31,20A,financial position?

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The Answer of Assume a company's January 1,20A,financial position was: Assets,$40,000 and Liabilities,$15,000.During January 20A,the company completed the following transactions: (a)paid on a note payable,$4,000 (no interest); (b)collected tradereceivables,$4,000; (c)paid trade payables,$2,000; and (d)purchased a truck,$1,000 cash,and $8,000 notes payable.What is the company's January 31,20A,financial position?

Assume a Company's January 1,20A,financial Position Was: Assets,$40,000 and Liabilities,$15,000