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The Following Entry Appears in Martin Supply's General Journal on March

Question 108

Multiple Choice

The following entry appears in Martin Supply's general journal on March 10, 2010:
 Accounts Receivable 35,000 Cash 21,000 Equipment 51,000\begin{array} { | l | r | r | } \hline \text { Accounts Receivable } & 35,000 & \\\hline \text { Cash } & 21,000 & \\\hline \text { Equipment } & & 51,000 \\\hline\end{array}
-Refer to the above data. Before the journal entry above, Martin had assets of $900,000; liabilities of $460,000; and equity of $440,000. Total assets immediately after the above transaction has been recorded amount to:


A) $900,000.
B) $921,000.
C) $956,000.
D) $794,000.

Correct Answer:

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