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Exercise 1-13 Debra King is the bookkeeper for Cullumber Company. Debra has been trying to determine the correct balance sheet for Cullumber Company. Cullumber's balance

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Exercise 1-13 Debra King is the bookkeeper for Cullumber Company. Debra has been trying to determine the correct balance sheet for Cullumber Company. Cullumber's balance sheet is shown below CULLUMBER COMPANY Balance Sheet December 31, 2020 Assets Liabilities Cash Supplies Equipment Owner's drawings $21,036 Accounts payable 11,219 64,510 18,231 $114,996 Accounts receivable Owner's capital Total liabilities and owner's equity $29,450 (9,116) 94,662 $114,996 Total assets Prepare a correct balance sheet. (List Assets in order of liquidity.)

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