Question: Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $31,500 and has cash on hand of $17,000 contributed by

Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $31,500 and has cash on hand of $17,000 contributed by Lanni's owners. Lanni takes out a bank loan. It receives $47,000 in cash and signs a note promising to pay back the loan over 3 years. Enter values in WHOLE NUMBERS (no decimals), use 000's separators (commas) where appropriate, do not enter dollar signs (no $) ASSETS Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $31,500 and has cash on hand of $17,000 contributed by Lanni's owners. Lanni takes out a bank loan. It receives $47,000 in cash and signs a note promising to pay back the loan over 3 years. Enter values in WHOLE NUMBERS (no decimals), use 000's separators (commas) where appropriate, do not enter dollar signs (no $) ASSETS

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