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Goggle Specialist, Inc. had the following Trial Balance (before closing) on December 31, 2021. The Common Stock balance already reflects $50,000 issuance of stock this
Goggle Specialist, Inc. had the following Trial Balance (before closing) on December 31, 2021. The Common Stock balance already reflects $50,000 issuance of stock this year. Refer to this data to complete the next three questions. Account Cash Accounts Receivable Allowance for Uncollectible Accounts Debit Credit 42,400 104,000 15,000 Inventory 105,000 Prepaid Rent 34,000 Interest Receivable 3,200 Supplies 6,100 Notes Receivable (short term) 28,500 Land 91,000 Equipment 235,400 Accumulated Depreciation 62,000 51,000 Accounts Payable Salaries Payable 64,000 Interest Payable 7,000 Warranties Payable 6,100 Deferred Revenue 43,000 Notes Payable (long term) 156,000 Dividends 16,000 Gain on Sale of Equipment 15,000 Sales Revenue 932,000 Interest Revenue 5,800 Bad Debt Expense 41,000 Warranty Expense 8,800 Salaries Expense 118,000 Insurance Expense 61,000 Cost of Goods Sold 591,000 Income Tax Expense 32,000 Depreciation Expense 2,600 Common Stock Retained Earnings Total 106,000 57,100 1,520,000 1,520,000 Prepare a Classified Balance Sheet as of December 31, 2021
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