During February, $186,500 was paid to creditors on account, and purchases on account were $201,400. Assuming the February 28 balance of Accounts Payable was $59,900, determine the account balance on February 1.
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BobCat Inc. has cash of $22,000, accounts receivable of $78,000, inventory of $62,000, prepaid insurance 8,000 and land of $90,000. The company has only one current liability account - salary payable of $64,000, what is working capital
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