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The bookkeeper for Wood Mfg. made the following journal entry on January 30, 2018:
Land 201,500 Buildings 84,500 Cash 65,000 Notes Payable 221,000 ?Before the journal entry above, Wood had assets, liabilities, and owners' equity of $450,000, $100,000, and $350,000, respectively. What are total assets immediately after the above transaction occurs?
A. $221,000.
B. $735,500.
C. $671,000.
D. $450,000.
Answer: C
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A) Central office control B) Sampling control C) Control of cheating D) Questionnaire pretesting E) Cross-tabulation
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Answer the following statement true (T) or false (F)