Question: Using the following data for Sentinel Travel Service as well as the statement of owners equity shown in Practice Exercise 1-5B, prepare a balance sheet

Using the following data for Sentinel Travel Service as well as the statement of owner’s equity shown in Practice Exercise 1-5B, prepare a balance sheet as of August 31, 2016:

Accounts payable $ 44,600
Accounts receivable 75,500
Cash 45,400
Land 310,000
Supplies 4,700

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