Gemma Lopez, a businessman has P300,000 in his personal savings account. He transferred half of this to the account of NG MAINTENANCE SERVICES as initial investment? The business purchased cleaning equipment, cleaning supplies and furniture and fixtures for P400,000. The amount of cash left after the purchase was P25,000? How much liabilities did the business incur?

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Gemma Lopez initially had P300000 in his savings account and ... View the full answer