Chapter $8,$ Q$6$ Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter:

a$.$ As of December $31($the end of the prior quarter$),$ the company's general ledger showed the following account balances:

$\backslash$table$[[,2,$Debits,Credits$],[$Cash$,,$$$49,000,],[$Accounts receivable,,$207,200,],[$Inventory$,,59,100,],[$Buildings and equipment,$($net$),359,000,],[$Accounts payable,,,$$87,825$