401K Payable-Accounts payable215,000.00Accounts receivable150,000.00Accumulated depreciation - buildings338,000.00Accumulated depreciation - equipment14,550.00Accumulated depreciation - furniture17,950.00Advertising expense-Allowance for doubtful accounts21,500.00Bad debt expense-Buildings1,500,000.00Cash30,925.00Common stock500,000.00Cost of goods sold405,000.00Depreciation expense - building-Depreciation expense - equipment-Depreciation expense - furniture-Dividends25,000.00Equipment20,000.00Federal income tax payable-Furniture55,000.00Gain on the sale of old furniture5,000.00Income tax expense50,000.00Income tax payable50,000.00Interest expense-Interest payable-Interest receivable-Interest revenue-Inventories418,500.00Land647,700.00Long-term notes payable1,250,000.00Notes Receivable46,875.00Other operating expenses50,000.00Payroll tax expense-Payroll tax payable - employee-Payroll tax payable - employer-Prepaid advertising24,000.00Rent expense130,000.00Retained earnings (beginning of year)300,000.00Salaries expense168,000.00Salaries payable-Sales1,075,000.00Short-term investments100,000.00Short-term notes payable25,000.00Supplies3,000.00Supplies expense-Unearned Revenue12,000.00