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Melon company provides painting services to its customers. The company performs adjusting entries on a monthly basis, whereas closing entries are prepared anually at December
Melon company provides painting services to its customers. The company performs adjusting entries on a monthly basis, whereas closing entries are prepared anually at December 31. An adjusted trial balance dated December 31, 2020. follows. Melon Company ADJUSTED TRIAL BALANCE 31-Dec-20 Credits Debits $27.800 4.300 8.700 3.200 1.400 140.000 S75.000 28.000 Cash Accounts receivables Unexpired nsurance Prepaid rent Supplies Trucks Accumulated depreciation: Trucks Mowing equition Accumulated depreciation:equipment accounts payable Notes payable Salaries payable Interest payable Income taxes payable unearned services revenue capital stocks Retained carings Dividends service revenue carned Insurance expense Office rent expense Supplies expense Salaries expense Depreciation expense: truck depreciation expense: equipment Repair and maintenance expense Fuel expense Mescellaneous expense Interest expense Income taxes expense 14.000 2.200 38.000 900 300 1.700 2.000 18.000 21.000 3.300 194.000 1.800 28.000 5.600 72.000 16.000 4.000 5.300 2.200 2.700 3.800 9.000 S367.100 367100 Instructions: Prepare an income statement and statement of retained earnings for the year ended december 2020. Also prepare the company's balance sheet dated December 31, 2020
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