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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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