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Prepare a simple balance sheet of assets and liabilities

Problem:

Assume that Banc One receives a primary deposit of $1 million. The bank must keep reserves of 20 percent against its deposits.

Prepare a simple balance sheet of assets and liabilities for Banc One immediately after the deposit is received.

Assets
Acct Name $$

Liabilities
Acct Name $$

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Accounting Basics: Prepare a simple balance sheet of assets and liabilities

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Accounting Basics: Prepare a simple balance sheet of assets and liabilities

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