1. Construct T-Accounts and enter the balances shown

Presented below is the December 31 trial balance of Splish Boutique. SPLISH BOUTIQUE TRIAL BALANCE DECEMBER 31 Debit Credit Cash $24.400 Accounts Receivable 40,900 Allowance for Doubtful Accounts $ 768 Inventory, December 31 80,780 Prepaid Insurance 6,070 Equipment 98,000 Accumulated Depreciation-Equipment 33,860 Notes Payable 25,270 Common Stock 79,822 Retained Earnings 10,750 Sales Revenue 677,420 Cost of Goods Sold 443,400 Salaries and Wages Expense (sales) 58,200 Advertising Expense 7,350 Salaries and Wages Expense (administrative) 63.920 Supplies Expense 4,870 $ 827,890 $ 827,890