ALLEN COMPANY TRIAL BALANCE 12/31/20 3 3 Debit Credit 180.000 3,350,000 394,000 150,000 500,000 920,000 80,000 300,000 5,000 300,000 50,000 7 Accounts payable Accounts receivable 9. Administration expenses 10 Allowance for doubtful accounts u Bonds payable 5%-due in 10 years, issued 6-30-20 12 Buildings & land- net and cost $50,000) 13 Cash 14 Common stock $1. par 15 Deferred revenue - due 2-1-2021 16 Inventories 1-1-20 17 Investments 18 Land 19 Machinery purchased 2015 estimated Ife 10-yes 20 Notes payable 12% 21 Notes receivable 10% 22 Patent-net 33 PIC common stock 24 Prepaid expenses 25 Purchases 26 Retained earnings 27 Salaries payable 2 Sales 29 Sales expenses 30 Treasury stock 3: Interest expense 500,000 100,000 60,000 50,000 970,000 35,000 6,100,000 1.344,000 40,000 8.850,000 500,000 100,000 12.439,000 12439,000 350,000 33 3 35. Note: 16 1.12/31/20 Merchandise Inventory 37 2. The note payable was issued 1/1/20, Interest rate 12% 383. The note recevable was received 6/30/20, interest rate 10% 19 Instructions: 0 1. Make any necessary year-end adjustments 4:42. Prepare a Worksheet as of December 31, 2020 43. Prepare a classified balance sheet as of 12-31-2020 4. Prepare an income statement for calendar year 2020 44 5. The buildings, constructed in year 2015, are estimated to have a 20 year 45 He and depreciation expense has not been recorded. 46 6. The machinery was purchased in 2015 and expected to have a 10 year ife. Depreciation expense has not been recorded 7. Your submission must be in excel formatted for one page Sheet1 Sheet2 Sheet