The following accounts and account balances are available for Badger Auto Parts at December 31:Accounts Payable$9,000 Income Taxes Payable$3,600Accounts Receivable41,100 Interest Expense6,650Accumulated Depreciation (Furniture)47,800 Interest Payable1,800Advertising Expense29,200 Inventory60,600Cash3,200 Notes Payable (Long-Term)50,000Common Stock100,000 Prepaid Rent15,250Cost of Goods Sold184,400 Retained Earnings, January 116,000Depreciation Expense (Furniture)10,400 Sales Revenue264,100Furniture128,000 Utilities Expense9,700Income Taxes Expense3,800 Required:Prepare a trial balance. Assume that all accounts have normal balances. If an amount box does not require an entry, leave it blank.

Trial balance is a mathematical representation of the accounts. It includes both temporary accounts…

Answered: The following accounts and account…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 4PB: The following accounts appear in the ledger of Sheldon Company on January 31, the end of this fiscal...

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The following accounts and account balances are available for Badger Auto Parts at December 31:

Accounts Payable	$9,000	Income Taxes Payable	$3,600
Accounts Receivable	41,100	Interest Expense	6,650
Accumulated Depreciation (Furniture)	47,800	Interest Payable	1,800
Advertising Expense	29,200	Inventory	60,600
Cash	3,200	Notes Payable (Long-Term)	50,000
Common Stock	100,000	Prepaid Rent	15,250
Cost of Goods Sold	184,400	Retained Earnings, January 1	16,000
Depreciation Expense (Furniture)	10,400	Sales Revenue	264,100
Furniture	128,000	Utilities Expense	9,700
Income Taxes Expense	3,800

Required:

Prepare a trial balance. Assume that all accounts have normal balances. If an amount box does not require an entry, leave it blank.

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