Question: please help to solve it Chapter 2 Basic Financial Statements During a short period after December 31, Smith Trucking had the following transactions: 1. Bought

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Chapter 2 Basic Financial Statements During a short period after December 31, Smith Trucking had the following transactions: 1. Bought office equipment at a cost of $2,600. Paid cash. 2. Collected $2,500 of accounts receivable. 3. Paid $2,000 of accounts payable. 4. Borrowed $5,000 from a bank. Signed a note payable for that amount. 5. Purchased three trucks for $60,000. Paid $5,000 cash and signed a note payable for the balance. 6. Sold additional stock to investors for $25,000
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