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Following balance are reported by Allay Corp for the year ended 2019: a) Cash $8,000 b) Bank $12,000 c) Sundry Creditors $40,000 d) Prepaid

Following balance are reported by Allay Corp for the year ended 2019: a) Cash $8,000 b) Bank $12,000 c)

Following balance are reported by Allay Corp for the year ended 2019: a) Cash $8,000 b) Bank $12,000 c) Sundry Creditors $40,000 d) Prepaid Insurance $1,000 e) Outstanding Wages $2,000 f) Accrued Commission $1,200 g) Closing stock $90,000 h) Machinery $212,000 i) Capital $320,000 j) Retained Earnings $84,800 k) Debtors $86,000 1) Bills Receivable $40,000 m) Outstanding Salaries $2,000 Prepare the correct balance sheet.

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