A company entered into the following transactions:
Posted: Tue Aug 03, 2021 6:39 am
A company entered into the following transactions:
- Borrowed $5,110 from the bank by signing a promissory note
- Issued stock to owners for $11,100
- Purchased $1,110 of supplies, on account
- Paid $510 to suppliers as payment on account for the supplies purchased
What is the amount of total liabilities?
$5,710
- Borrowed $5,110 from the bank by signing a promissory note
- Issued stock to owners for $11,100
- Purchased $1,110 of supplies, on account
- Paid $510 to suppliers as payment on account for the supplies purchased
What is the amount of total liabilities?
$5,710