Exercise 3-4 Balance sheet preparation LO3-2, 3-3] The following is a December 31, 2016, post-closing trial balance for the Jackson Corporation Debits Account Title Credits Cash 60,000 Accounts receivable 54,000 95,000 Inventories Prepaid rent 36,000 30,000 Marketable securities (short term) Machinery 245,000 Accumulated depreciation-machinery 31.000 99,000 Patent (net of amortization) Accounts payable 18,000 14,000 Wages payable 52,000 Taxes payable Bonds payable (due in 10 years) 270,000 180,000 Common stock Retained earnings 54,000 Totals 619,000 619,000