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How much are total assets

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Reference no: EM132404017

The following entries were made by the accountant of Patel Pastries during its ?rst month of operation.

1. James Patel, the owner, deposited $3,000 in the business's new checking account.

2. Patel Pastries paid the ?rst month's rent of $400 in cash. 3. Patel Pastries purchased equipment by signing a note payable of $11,000.

4. Cash sales for the month were $4,500.

5. Patel Pastries purchased cooking supplies for $1,400 cash.

After the accountant posts these entries to the general ledger, how much are total assets?

Reference no: EM132404017

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