Dr. Doug Moore's and Dr. Kim Peters' liabilities = $ 18446
In this question we've been given Dr. Doug Moore and Dr. Kim Peters each contributed $7,500 of their own money and took up $100,000 for equipment and inventories.
Dental equipment cost them $81,000 and inventories amounted to$3,467, which they've not yet paid.
We need to find their liabilities.
We know that the liabilities are nothing but the total amount of money that you owe to creditors.
so, their liabilities:
= borrowed money + payable amount
= $100,000 + $81,000 + $3467
= $184467
Thus, Dr. Doug Moore's and Dr. Kim Peters' liabilities = $ 18446
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