On January 13, Berg withdrew for his personal use $300 cash from the Evergreen Market bank account, and he also withdrew merchandise costing $500.

Change the following January 12 balance sheet so that it shows the financial condition on January 13.

Transcribed Image Text:

EVERGREEN MARKET BALANCE SHEET AS OF JANUARY 12 Assets Liabilities & Equity Cash.. $44,700 Accounts Payable......... $ 4,000 Accounts Receivable. 1,800 Note Payable 10,000 Inventory 6,300 Mortgage Payable 8,000 Prepaid Insurance 500 Berg, Capital 40,000 Land.. 10,000 Retained Earnings 1,300 Total. $63,300 Total. $63,300