During its first month of operations, Donald Company borrowed $100,000 from a bank, and then purchased equipment costing $40,000 by paying cash of $20,000 and signing a long term note for the remaining amount. During the month, the company also purchased Inventory for $30,000 on credit, performed services for clients for $10,000 on account, paid $15,000 cash for accounts payable, and paid $30,000 cash for utilities.
What is the amount of total assets at the end of the month?
A) $125,000
B) $115,000
C) $ 95,000
D) $135,000

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The Answer of During its first month of operations, Donald Company borrowed $100,000 from a bank, and then purchased equipment costing $40,000 by paying cash of $20,000 and signing a long term note for the remaining amount. During the month, the company also purchased Inventory for $30,000 on credit, performed services for clients for $10,000 on account, paid $15,000 cash for accounts payable, and paid $30,000 cash for utilities.
What is the amount of total assets at the end of the month?
A) $125,000
B) $115,000
C) $ 95,000
D) $135,000

During Its First Month of Operations, Donald Company Borrowed $100,000