Reference no: EM132089043
Question: Pendleton Hospital had assets of $29,000, Liabilities of $12,000, and net assets of $17,000 on March 1, 2016. Subsequently, the following transactions were completed:
1. They borrowed $2,500 from a local bank.
2. They repaid $1,000 of the bank loan (disregard interest).
3. They purchased and placed in inventory supplies costing $1,800.
4. They purchased a new piece of equipment for $4,600 cash.
5. They paid$800 on their accounts payable.
6. They sold $700 worth of previously purchased supplies to patients for $960 cash.
7.They charged $1,770 to patients' accounts for services rendered.
8. They collected $1,150 on patients' accounts.
Taking into account the cumulative effects of the eight transactions and the March balances, what are their Total Assets now?
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