After closing its accounts at July 31, 2018, Anderson Realty, Inc., had the following account balances: Prepare
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After closing its accounts at July 31, 2018, Anderson Realty, Inc., had the following account balances:
Prepare Anderson Realty?s post-closing trial balance at July 31, 2018. List the accounts in proper order.
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Notes Payable . Prepaid Rent.. Accounts Receivable Prepaid Insurance. Accounts Payable.. $ 5,000 $ 3,800 Cash... Service Revenue Retained Earnings. Common Stock. Salaries Expense. Accumulated Depreciation, Equipment.. 1,600 2,300 4,200 . 10,700 35,000 2,100 45,500 Equipment. 4,600
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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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