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Question - At September 1, Company A reported total assets of $300,000. During September the company recorded the following transactions.
1) Collected accounts receivable totaling $15000.
2) Sold land that had a $12000 cost for $20,000 cash.
3) Earned service revenue of $8,000 of which 20% was received in cash.
4) Incurred expenses of $5,000 which 50% was paid off in cash.
Required - Calculate the total assets of company A after the four above transactions have been recorded.
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