Question: Question 8 Jack Henry borrowed $ 8 0 0 , 0 0 0 from Walt Bank to open a new bike store called Wooden Wheels.

Question 8
Jack Henry borrowed $800,000 from Walt Bank to open a new bike store called Wooden Wheels. Jack transferred $650,000 of the cash that he borrowed to the store on the first day of the year. How many reporting entities exist in this scenario?
One reporting entity
Two reporting entities
Three reporting entities
Four reporting entities
Question 8 Jack Henry borrowed $800,000 from Walt Bank to open

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