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Just before Henderson Laboratories opened for business, Eugene Henderson, the owner, had the following assets and liabilities.
Cash
Laboratory equipment
Laboratory supplies
Loan payable
Accounts payable.
$ 41,500
76,600
7,800
16,100
10,125
Determine the totals that would appear in the firm's fundamental accounting equation
(Assets Liabilities + Owner's Equity).
Assets
Liabilities
Owner's equity

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