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15 points Shown below is an adjusted trial balance for Novelty Toys, Incorporated, on December 31, Year 1: Credit Novelty Toys, Incorporated Adjusted Trial Balance

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15 points Shown below is an adjusted trial balance for Novelty Toys, Incorporated, on December 31, Year 1: Credit Novelty Toys, Incorporated Adjusted Trial Balance December 31, Year 1 Debit Cash $ 15,250 Accounts Receivable 12,625 Office Equipment 22,000 Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings Dividends 7,250 Fees Earned Salaries Expense 15,500 Advertising Expense 3,125 Depreciation Expense 4,125 Totals $ 79,875 $ 5,750 7,625 22,250 -0- 44,250 $ 79,875 The Income Summary will have what balance before it is closed

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