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Beta Corporation purchased $120,000 worth of land by paying 12,000 cash and signing a $108,000 mortgage. Immediately prior to this transaction the corporation had assets, liabilities, and owners’ equity in the amounts of $152,000, $31,000, and $121,000 respectively. What is the total amount of Beta Corporation’s assets after this transaction has been recorded?
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| $164,000 | |
| $43,000 | |
| $260,000 | |
| $272,000 | |
| $284,000 |