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On December 1, 2020, Monty Corp. had the following account balances Credit $18,900 Accumulated Depreciation-Equipment $3,000 6,100 52,500 13,500 $75,100 Debit Cash Notes Receivable Accounts
On December 1, 2020, Monty Corp. had the following account balances Credit $18,900 Accumulated Depreciation-Equipment $3,000 6,100 52,500 13,500 $75,100 Debit Cash Notes Receivable Accounts Receivable Inventory Prepaid Insurance Equipment 2,500 Accounts Payable 7,000 Common Stock 16,800 Retained Earnings 1,600 28,300 $75,100 During December, the company completed the following transactions Dec. 7 Received $3,700 cash from customers in payment of account (no discount allowed) 12 Purchased merchandise on account from Vance Co. $11,900, terms 1/10, n/30 17 Sold merchandise on account $16,400, terms 2/10, n/30. The cost of the merchandise sold was $9,100 19 Paid salaries $2,300 22 Paid Vance Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17 31 Received $2,800 cash from customers in payment of account (no discount allowed) Adjustment data: 1. Depreciation $200 per month. 2. Insurance expired $410 Prepare an adjusted trial balance. (Do not list those accounts that have zero ending balance.) Monty Corp Adjusted Trial Balance ecember 31, 2020 Debit Credit Casr Notes Receivable nventor repaid Insurance quipmen ccumulated Depreciation-Equipmen ccounts Payabl Salaries and Wages Payable Common Stoc etained Earning ales Revenue ales Discounts ost of Goods Sol epreciation Expen:s alaries and Wages Expens
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