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Martin Technical Institute Trial Balance December 31, 2019 Account Title Debit Credit Cash $ 54,900 Teaching supplies 3,240 7,200 Prepaid intturance Professional library 51,000 Accumulated

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Martin Technical Institute Trial Balance December 31, 2019 Account Title Debit Credit Cash $ 54,900 Teaching supplies 3,240 7,200 Prepaid intturance Professional library 51,000 Accumulated depreciation Professional library 30,600 54,000 Equipment Accumulated depreciation Equipment 16,200 Accounts payable 32,000 Salaries payable 880 7,800 Unearned training fees Common stock 10,000 Retained earnings 82,000 53,300 Dividends 127,000 Tuition fees earned 50,700 Training fees earned Depreciation expense - Professional library 10,200 Depreciation expense - Equipment 5,400 Salaries expense 51,680 2,400 Insurance expense Rent expense 45,600 Teaching supplies expense 5,310 6,000 6,950 357,180 $ Advertising expense Utilities expense Total 357,180 Journal entry worksheet 2 5 6 7 On October 15, MTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $3,800 of the tuition has been earned by MTI Note: Enter debits before credits. Date Account Title Debit Credit Accounts receivable Dec 31 Tuition fees earned Record entry View general journal Clear entry LC

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