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QUESTION
On October 1, 20X6, Susan Thompson opened Thompson Decorating Services, a sole proprietorship. Susanbegan operations with $50,000 cash, 60% of which...
On October 1, 20X6, Susan Thompson opened Thompson Decorating Services, a sole proprietorship. Susanbegan operations with $50,000 cash, 60% of which was acquired via an owner investment. The remaining amount was obtained from a bankloan. A review of the accounting records for October revealed the following:
