Boerkian co started in 20x1 with two assets cash of

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Boerkian Co. started in 20X1 with two assets: cash of §26,000 (stickles) and land that originally cost §72,000 when acquired on April 4, 20XX. On May 1, 20X1, the company rendered services to a customer for §36,000, an amount immediately paid in cash. On October 1, 20X1, the company incurred an operating expense of §22,000 that was immediately paid. No other transactions occurred during the year so an average exchange rate is not necessary.

Reference no: EM13584526

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