COOKIE CREATIONS

Adjusted Trial Balance

December 31, 2019

Debit

Credit

Cash

$1,040

Accounts Receivable

770

Supplies

310

Prepaid Insurance

1,060

Equipment

1,100

Accumulated DepreciationEquipment

$40

Accounts Payable

65

Salaries and Wages Payable

49

Interest Payable

15

Unearned Service Revenue

260

Notes Payable

1,800

Owner's Capital

700

Owner's Drawings

440

Service Revenue

3,986

Salaries and Wages Expense

885

Utilities Expense

110

Advertising Expense

145

Supplies Expense

900

Depreciation Expense

40

Insurance Expense

100

Interest Expense

15

Credit : $6,915

Debit: $6,915

Using the information in the adjusted trial balance, do the following.

1) create a classified balance sheet at December 31, 2019. The note payable has a stated interest rate of6%, and the principal and interest are due on November 16, 2021.(List Current Assets in order of liquidity.)

2) Natalie has decided that her year-end will be December 31, 2019. Prepare closing entries as of December 31, 2019.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)