Business, 28.05.2020 18:01 shayneseaton

Blair Scott started a sole proprietorship by depositing $40,000 cash in a business checking account. During the accounting period, the business borrowed $20,000 from a bank, earned $5,800 of net income, and Scott withdrew $7,000 cash from the business. Based on this information, what is the balance in Scott’s capital account at the end of the accounting period?

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Blair Scott started a sole proprietorship by depositing $40,000 cash in a business checking account....