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Assignment Company You have Forgo's adjusted trial bolance and are asked to Read the information about Fargo Company analyze the activity in selected accounts to determine balances ond activity during the period. We will discuss how on Fridoy, May 20. Bring your copy of the case to class. This is will check your work on Wednesday, May 25 (counts as entire assignment (hard copy submission) later in the to determine information about beginning bolances, ending will discuss how to get started with this exercise in class to class. This is considered a homework assignment - one homework check) and you will hand in the The July 31, 2014 adjusted trial balance of Fargo Company is debits and credits for each acco presented below. Notice that the total unt are listed (including the beginning balances) rather than the usual account ending balance. Fargo's fiscal year end is June 30. All adjusting entries have been mad the month of July 2014, except the adjustment for invent ACCOUNT DEBIT CREDIT 68,500 $ 54,600 54,400 Cash Accounts Receivable 700 60,000 1,200 1,700 22,000 400 31,900 Allowance for Credit Losses Inventory Prepaid Advertising 400 Office Supplies Office Equipment Accumulated Depreciation 7,600 Accounts Payable 40,000 Salaries Payable Interest Payable 800 100 8,200 30,000 14,200 20,000 19,900 61,000 4,000 3,000 Dividends Payable Notes Payable Common Stock APIC-Cs 7,200 Retained Earnings Sales Revenue Sales Returns Sales Discounts Purchases Purchase Returns and Allowances Purchase Discounts Salaries Expense Office Supplies Expense Insurance Expense Advertising Expense Bad Debt Expense Miscellaneous Expense Depreciation Expense 500 42,000 900 400 9,200 300 700 600 500 400 Interest Expense Gain/Loss on Sale of Equipment 300 200