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Credit $ 2,000 BUSI 1043 INC. Adjusted Trial Balance Asat December 31, 2019 Debit Cash $ 20,000 Accounts Receivable $ 17,000 Allowance for doubtful accounts

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Credit $ 2,000 BUSI 1043 INC. Adjusted Trial Balance Asat December 31, 2019 Debit Cash $ 20,000 Accounts Receivable $ 17,000 Allowance for doubtful accounts Inventory $ 10,000 Prepaid Expenses $ 2,000 Long Term Investments $100,000 Building $300,000 Accumulated Depreciation - Building Equipment $ 75,000 Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Interest Payable Income Tax Payable Unearned Revenue Current portion of bank loan payable Bank loan payable Common Shares Dividends Declared $ 16,000 $ 30,000 $ 15,000 $ 8,000 $ 3,500 $ 1,500 $ 12,000 $ 5,000 $ 3,500 $ 35,000 $ 100 $ 100 $ 16,000 $329,400 $500,000 $ 15,000 $ 6,000 $ 3,000 Common Shares Dividends Declared Retained Earnings Sales Sales returns and allowances Sales discounts Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Advertising expense Supplies expense Insurance expense Interest expense Income tax expense $285,000 $ 40,000 $ 16,000 $ 12,000 $ 11,000 $ 6,000 $ 4,000 $ 1,000 $ 12,000 1. Prepare the Balance Sheet 2. Prepare the Income Statement

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