Excell COMPANY

Post$-$Closing Trial Balance

June $30,2021$

Account Title Debits Credits

Cash $83,000$

Short$-$term investments $65,000$

Accounts receivable $($net$)280,000$

Prepaid expenses $($for the next $12$ months$)32,000$

Land $75,000$

Buildings $320,000$

Accumulated depreciation $-$ buildings $160,000$

Equipment $265,000$

Accumulated depreciation $-$ equipment $120,000$

Accounts payable $173,000$

Accrued liabilities $45,000$

Notes payable $100,000$

Mortgage payable $250,000$

Common stock $100,000$

Retained earnings $172,000$

Totals $1,120,0001,120,000$

Additional Information:

U$.$S$.$ treasury bill purchased in May $-$ July, $2021$ maturity $$18,000$

Accounts receivable:

Amounts owed by customers $$225,000$

Allowance for uncollectible accounts$-$trade customers $(15,000)$

Nontrade notes receivable $($due in $3$ years$)65,000$

Interest receivable on notes $($due in $4$ months$)5,000$