Question
A review of the ledger of Smallville Company at April 30, 2020, produces the following data pertaining to the preparation of monthly adjusting entries. (a)
A review of the ledger of Smallville Company at April 30, 2020, produces the following data pertaining to the preparation of monthly adjusting entries. (a) Notes Payable $25700. This balance consists of a note for 6 months at an annual interest rate of 14%, dated January 1, 2020. (b) There are five workers in Smallville Company who are paid wages weekly. The five workers are paid $830 each for a 5-day work week (Monday to Friday). April 30 is a Tuesday and workers are paid on Fridays. (c) Annual depreciation is $12400 on equipment. (d) Physical check reveals inventory actually on hand on April 30, 2020 is $56771
Question: Prepare an adjusted trial balance
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