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dition to the transactions described in items 4 and 5 above, there was a sale to the customer who paid $40 in advance (see December 31, 2015...

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The GIJoe Company started its operations in 2014. Two years later, the balance sheet at December 31, 2015, showed the following account balances: wages payable 6; loan re- ceivable (from ABC company) 50; paid-in capital 500; accounts payable 50; property, plant and equipment (net) 170; inventory 59; cash 400; advances from customers 40; accounts receivable 93; retained earnings . During 2016, the following transactions occurred.

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