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Question(s) / Instruction(s):

Alpha Corporation purchased $70,000 worth of land by paying 7,000 cash and signing a $63,000 mortgage. Prior to this transaction the corporation had assets, liabilities and owners equity in the amounts of $147,000; $37,000; and $110,000 respectively. What is the total amount of Alpha Corporations assets after this transaction has been recorded?
a)    $283,000
b)    $217,000
c)    $147,000
d)    $140,000
e)    $210,000

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