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Discuss the accounting period scotts capital account

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Reference no: EM131780070

Blair Scott started a sole proprietorship by depositing $41,000 cash in a business checking account. During the accounting period the business borrowed $20,000 from a bank, earned $6,000 of net income, and Scott withdrew $7,200 cash from the business. Based on this information, at the end of the accounting period Scott's capital account contained a balance of

Reference no: EM131780070

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