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What is the company January financial position

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Question - Assume Jones Company's January 1, 2019, financial position was: Assets, $40,000 and Liabilities, $15,000. During January 2019, the company completed the following transactions: (a) paid on a note payable, $4,000 (no interest); (b) collected trade receivables, $4,000; (c) paid trade payables, $2,000; and (d) purchased a truck, $1,000 cash, and $8,000 notes payable. What is the company's January 31, 2019 financial position?

Reference no: EM133012346

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