Jack Company has the following post-closing trial balance on December 31, 2024: (Click the icon to view the post-closing trial balance.) The company's accounting department has gathered the following budgeting information for the first quarter of 2025: (Click the icon to view the budget information.) Budgeted Balance Sheet March 31, 2025 Assets Current Assets: Cash Accounts Receivable Prepaid Insurance Help me solve this Etext pages ype here to search DI 28000 14000 1000 Calculator e Additional information: Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount. Read the requirements. Final check 58F Clear all (Click the icon to view the post-closing trial balance.) The company's accounting department has gathered the following budgeting information for the first quarter of 2025: (Click the icon to view the budget information.) Accounts Receivable 14000 Prepaid Insurance 1000 Merchandise Inventory 16000 Total Current Assets Property, Plant, and Equipment Equipment and Fixtures 34,000 Less: Accumulated Depreciation (15000) Help me solve this Etext pages Calculator 59000 19000 Rent and income is an expiration o Read the requirem (Click the icon to view the budget information.) Merchandise Inventory Total Current Assets Property, Plant, and Equipment Equipment and Fixtures Less: Accumulated Depreciation Help me solve this Total Assets Etext pages 16000 34,000 (15000) Calculator 59000 19000 78000 *** en -red Data table Budgeted total sales, all on account Budgeted purchases of merchandise inventory, all on account Budgeted cost of goods sold Budgeted selling and administrative expenses: Commissions expense Salaries expense Rent expense Depreciation expense Insurance expense Budgeted cash receipts from customers Budgeted cash payments for merchandise inventory Print Done $ 122,000 61,100 61,000 6,100 6,000 4,800 800 500 126,780 67,675 - X en red Data table Budgeted cost of goods sold Budgeted selling and administrative expenses: Commissions expense Salaries expense Rent expense Depreciatio expense Insurance expense Budgeted cash receipts from customers Budgeted cash payments for merchandise inventory Budgeted cash payments for salaries and commissions Budgeted income tax expense Done Print 61,000 6,100 6,000 4,800 800 500 126,780 67,675 15,243 4,700 Jack Company Post-Closing Trial Balance December 31, 2024 Account Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Equipment and Fixtures Accumulated Depreciation Print Debit $ 28,000 14,000 16,000 1,000 34,000 Done $ Credit 15,000 Accounts Receivable Merchandise Inventory Prepaid Insurance Equipment and Fixtures Accumulated Depreciation Accounts Payable Salaries and Commissions Payable Common Stock Retained Earnings Totals $ 14,000 16,000 1,000 34,000 93,000 $ $ 15,000 21,000 7,000 12,000 38,000 93,000