Intelligent Toys, Inc (ITI) is a well establish toys trading company which adopts the periodic system. ITI prepares its financial statements on a monthly basis. The trial balance of ITI as at 28 February 2021 is presented as follows:

Account No.

Intelligent Toys, Inc Trial Balance

As at 28 February 2021 Account Title

Debit ($)

675,000

9,720,000 1,001,520

990,000 144,000 750,000 975,000 832,500

2,700,000 18,000

Credit ($)

420,000

745,200 570,000 664,668

20,250 120,000

2,077,212 105,300

6,000,000

6,000,000 840,000 300,000

9,000 17,871,630

201 Accounts Payable