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The Following Items Are Components of a Traditional Balance Sheet

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The following items are components of a traditional balance sheet. How much are the total assets of the firm?  Plant and equipment $42,000 Common stock 15,000 Cash 8,000 Inventory 21,000 Bad debt reserve 6,000 Paid in excess 6,000 Accumulated depreciation 28,000 Accountsreceivable 22,000\begin{array}{lc}\text { Plant and equipment } & \$ 42,000 \\\text { Common stock } & 15,000 \\\text { Cash } & 8,000 \\\text { Inventory } & 21,000 \\\text { Bad debt reserve } & 6,000 \\\text { Paid in excess } & 6,000 \\\text { Accumulated depreciation } & 28,000 \\\text { Accountsreceivable } & 22,000\end{array}

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