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Compute the missing Asset amount

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Question - The incomplete trial balance of ABC, Inc. reports the following assets and liabilities. Compute the missing Asset amount that would appear in the corporation's trial balance according to the basic accounting equation (Assets = Liabilities + Owners' Equity (Capital Stock)).

Cash $55,000

Accounts Payable 25,000

Office Supplies 15,000

Loan Payable 7,000

Accounts Receivable 10,000

Owners capital 115,000

Reference no: EM132631296

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