Selected accounts from Bennett Co.s adjusted trial balance for the year ended December 31 follow. Prepare a
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Selected accounts from Bennett Co.’s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: Allowance for doubtful accounts is subtracted from accounts receivable on the company’s balance sheet.
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Prepaid rent $ 1,000 Accounts payable .... $2,500 Accounts receivable.. 10,000 Allowance for doubtful accounts 500 Cash .... 12,000 Notes payable (due in 10 years) 6,000 Total equity. 18,000 Notes recelvable (due in 4 years)... 4,000
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Related Book For
Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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