From the ledger balances given below, prepare a trial balance for the Favre Company at June 30,

Question:

From the ledger balances given below, prepare a trial balance for the Favre Company at June 30, 2020. List the accounts in the order as indicated in the chapter. All account balances are normal.

Accounts Payable $7,000, Cash $5,200, Common Stock $20,000, Dividends $800, Equipment $17,000, Service Revenue $6,000, Accounts Receivable $3,000, Salaries and Wages Expense $6,000, and Rent Expense $1,000.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...

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