Solution-What was the impact on total assets during year one

What was the impact on total assets during year one

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Reference no: EM132819154

Problem 1: Bledsoe Company acquired $17,000 cash by issuing common stock on January 1, Year 1. During Year 1, Bledsoe earned $8,500 of revenue on account. The company collected $6,000 cash from customers in partial settlement of its accounts receivable and paid $5,400 cash for operating expenses. Based on this information alone, what was the impact on total assets during Year 1?

A. Total assets increased by $20,100

B. Total assets increased by $600

C. Total assets increased by $26,100

D. Total assets did not change

Reference no: EM132819154

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What was the impact on total assets during year one

Reference no: EM132819154

Reference no: EM132819154

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