2. In early December, Alice and Bob decided to open the Sample Cafe with $15,000...
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Accounting
2. In early December, Alice and Bob decided to open the Sample Cafe with $15,000 of their own money and $20,000 borrowed from a friend. They have spent $12,000 on equipment and furniture, and they have purchased $3,000 worth of inventory. Having put down a $2,500 deposit for a location on Main St., they will pay the first months rent when they open their doors on January 1st . Create a balance sheet showing the financial position of the Sample Cafe as of December 31st .
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