ACC 290 Chapter 1 Test Q-4

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Justin Knight had the following assets and liabilities as of September 1, 2018.

Assets Liabilities

Cash $5,700

Automobile $12,200

House $170,000

Contents of Home $5,200

Prepaid Insurance $1,800

Unpaid Accounts $2,000

Credit Card $900

Mortgage $102,000

Total $194,900 $104,900

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