letion of a work sheet, preparation of statements, adjusting and closing ntries (LG 2, 4-7) Following is the trial balance of Orange Company on December 31, 2011, the end of the fiscal year: Acct. Account Title No. 101 Cash 11 Accounts Receivable 130 Merchandise Inventory Debits Credits $ 21,000 40,000 15,000 30,000 150,000 165 166 201 202 231 331 360 372 401 403 501 502 504 602 703 711 721 803 Store Supplies Store Equipment Accumulated Depreciation-Store Equipment Accounts Payable Notes Payable (due 2012) Unearned Rent Common Stock Retained Earnings Dividends Sales Sales Discounts Purchases Transportation In Purchases Discount Sales Salaries Expense Office Salaries Expense Rent Expense* Utilities Expense* Rent Revenue $40,000 30,000 10,000 3,000 60,000 38,000 2,000 352,000 5,000 196,000 4,000 3,000 40,000 20,000 16,000 7,000 $546,000 $546 000 Totals assified as general and administrative expense