Balance Sheet

At Jan $1,2023$

Assets: Liabilities:

Cash $ $12,500$ Accounts Payable $ $500$

Accounts Receivable $ $700$ Total Liabilities $ $500$

Supplies $ $630$

Inventories $ $200$ Stockholders Equity:

Common Stock $ $11,770$

Retained Earnings $ $1,760$

Total Stockholders Equity $ $13,530$

Total Assets $ $14,030$ Total Liabilities & Stockholders Equity $ $14,030$

Jan The following transactions occurred during January of the current year.

$1$ Paid $12$ months insurance starting January $1,$ $$5,100.$

$2$ Paid $9$ months rent starting January $1,$ $$3,600.$

$3$ MBC borrows $$36,000$ cash from National State Bank at $6\%$ annual interest; this note is payable in two years.

$4$ A new oven is purchased using cash. The total cost was $$24,000.$

$5$ Stockholders contribute $$7,000$ of additional cash to MBC for its common stock.

$6$ Additional supplies costing $$1,100$ are purchased on account and received.

$7$ Accounts receivable of $$600$ is collected from December sales.

$8$ Accounts payable of $$200$ is paid from December purchases.

$9$ Performed services for customers on account, sending invoices totaling $$10,900.$

$10$ Performed services for customers totaling $$7,500$ who paid in cash.

$16$ Salaries totaling $$1,150$ were recorded and paid for the first half of the month.

$20$ MBC received $$3,800$ from a customer for an advance order for services to be provided later in Jan & Feb.

$25$ Accounts receivabcle of $$4,800$ is collected from customer on account from January $9.$

create a trial balance sheet for at january $31$