Use the following data to answer QuestionAccounts payable $30,000Accounts receivable 65,000Accrued liabilities 7,000Cash 20,000Intangible assets 40,000Inventory 72,000Long-term investments 100,000Long-term liabilities 75,000Marketable securities
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Question 451 pts In the Freyfogle Company, land decreased $75,000 because of a cash sale for $75,000, the equipment account increased $20,000 as a result of a cash purchase, and Bonds Payable increased $70,000 from an issuance for cash at face value.
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