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Below is Galt Services' financial accounting information for the year ending April 30, 2016. Cash $8,340 Equipment $ 36,430 Accounts Payable Accounts Receivable Accumulated
Below is Galt Services' financial accounting information for the year ending April 30, 2016. Cash $8,340 Equipment $ 36,430 Accounts Payable Accounts Receivable Accumulated Depreciation $4,340 $ 3,560 $770 $ 180 Unearned Revenue Inventory $ 7,150 Prepaid Insurance $ 2,630 Bank Loan $ 24,000 $ 28,820 Taylor, Capital The bank loan is payable over 3 years and $8,000 will be paid by April 30, 2017. Required Prepare a classified balance sheet using the balances listed above. Do not enter dollar signs or commas in the input boxes. For accumulated depreciation, do not enter a negative sign before the number. Select accounts according to their classification. If more than one account is used under a classification, enter them in the order of appearance in the list above. For example, if cash and accounts receivable are both current assets, choose cash for the first drop down menu, and accounts receivable for the second.
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