Janice Thorpe owns Grinds Coffee House, near the campus of Western Community College. The company…
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Janice Thorpe owns Grinds Coffee House, near the campus of Western Community College. The company has cash of $18,000 and furniture that cost $40,000. Debts include accounts payable of $7,000 and a $30,000 note payable. Write the accounting equation of Grinds Coffee House. What is the owner s equity of the company?
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