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  3. on december 31 2015 bag corporation has 12000 cash on...

Question: on december 31 2015 bag corporation has 12000 cash on...

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On December 31, 2015, Bag Corporation has $12,000 cash on hand and in the bank. It owns other things of value, totaling $25,000. Its only debt is a bank loan of $10,000. Prepare a balance sheet for Bag Corporation as of December 31, 2015.

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