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All's Good Bakery opened for business, Eva Flores, the owner reported the following assets and liabilities.
Cash $15,500
Baking Equipment $12,100
Refrigerator $4,000
Loan Payable $8,000
Accounts Payable $3,750
Problem 1: All's Good Bakery had total liabilities of:
A. 8,000
B. 4,000
C. 12,100
D. 11,750
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