MANHATTAN FAMILY DENTISTRY                                                               
Balance Sheet                                                             
January 1, 20__                 Assets                                     
Liabilities & Stockholders’ EquityCash                                     
$ 20,000      Liabilities:Accounts receivable...........
      
31,000         Accounts
payable ................................
      $ 45,000Land                                      
190,000           
Total liabilities..................................
      $ 45,000Building............................     
225,000      Owners’ equity:Equipment.........................     
_35,000           
Capital stock.....................................
      456,000Total assets.......................    
$501,000      Total liabilities and
owners’ equity...........      $501,000During the first few days of January, the following transactions
occurred:Jan   
2       Equipment was purchased for
$38,000 on credit.        
2       The business collected
$16,000 of its accounts receivable and paid $23,000...