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Prepare a classified balance sheet: Cash $30,00 Accounts Receivable 49,000 Allowance for Doubtful Accounts 700 Notes Receivable 11,000 Inventory 45,000 Land 20,000 Building 178,000 Accumulated

Prepare a classified balance sheet:

Cash $30,00
Accounts Receivable 49,000
Allowance for Doubtful Accounts 700
Notes Receivable 11,000
Inventory 45,000
Land 20,000
Building 178,000
Accumulated Depreciation, Building 13,000
Equipment 56,000
Accumulated Depreciation, Equipment 24,000
Accounts Payable 26,000
Long Term Notes Payable 80,000
Common Stock, 10.00 p, 3,000 shares authorized, 14,000 outstanding
Retained Earnings 100,00
Sales Revenue 550,000
Salaries Expense 90,000
Rent Expense 2,500
Cost of Goods Sold 20,000
Product Expenses 5,000 _______

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