Based on the following selected account balances appearing in the trial balance of Midway Repair Company as of December 31, 200D: Cash Loan Payable Office Equipment Unearned Rentals Accrued Salaries Meg Drawing Repair Income Prepaid advertising Rent expense Meg Capital Accrued Interest income P 20,000 12,000 60,000 5,000 25,000 8,000 123,000 10,000 15,000 135,000 1,000 How much is the total of the debit balances? P 236,000 P114,000 P 261,000 P 235,000

Based on the following selected account balances appearing in the trial balance of Midway Repair Company as of December 31, 200D: Cash Loan Payable Office Equipment Unearned Rentals Accrued Salaries Meg Drawing Repair Income Prepaid advertising Rent expense Meg Capital Accrued Interest income P 20,000 12,000 60,000 5,000 25,000 8,000 123,000 10,000 15,000 135,000 1,000 How much is the total of the debit balances? P 236,000 P114,000 P 261,000 P 235,000

Name: Based on the following selected account balances appearing in the tri
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Description: Based on the following selected account balances appearing in the trial balance of Midway Repair Company as ofDecember 31, 2000:CashLoan PayableOffice EquipmentUnearned RentalsAccrued SalariesMeg DrawingRepair IncomePrepaid advertisingRent expenseMe

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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