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Clear Water Company reports the following balance sheet accounts as of December 31. Buildings $ 47,500 Accounts receivable 2,900 Land 25,800 Merchandise inventory 8,800 Accounts
Clear Water Company reports the following balance sheet accounts as of December 31.
| Buildings | $ 47,500 |
|---|---|
| Accounts receivable | 2,900 |
| Land | 25,800 |
| Merchandise inventory | 8,800 |
| Accounts payable | 5,900 |
| Cash | 9,800 |
| Notes payable (due in 7 years) | 48,000 |
| Office supplies | 2,800 |
| Common stock | 15,000 |
| Retained earnings | 19,000 |
| Wages payable | 3,900 |
| Accumulated DepreciationBuildings | 5,800 |
Prepare a classified balance sheet.
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
