Inc. is a retail business headquartered in the U.S. The accounting information system is based upon the principles and rules of U.S. Generally Accepted Accounting Principles (GAAP). Business activity is recorded on an accrual basis. The company employs the perpetual inventory system in accounting for its merchandise inventory. The company operates using a January through December fiscal year. The balances of the accounts in the general ledger as of November 30 of the current fiscal year are as follows: 110 Cash 65,900 111 Accounts Receivable 192,100 112 Inventory 256,400 113 Estimated Returns Inventory 8,100 114 Supplies 12,100 115 Prepaid Insurance 30,000 120 Land 140,000 121 Equipment 897,100 122 Accumulated Depreciation-- Equip. 229,600 210 Accounts Payable 42,810 211 Customer Refunds Payable 25,200 212 Salaries Payable 0 213 Interest Payable 0 214 Uneamed Rent 33,200 220 Notes payable (final payment due in 4 years) 50,000