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Preston's Party Supplies Adjusted Trial Balance December 31, 2020 Account Debit Credit Cash $6,800 Accounts receivable 29,000 Inventory 35,000 Furniture 38,000 Accumulated amortization?furniture $27,000 Accounts
Preston's Party Supplies
Adjusted Trial Balance
December 31, 2020
Account
Debit
Credit
Cash
$6,800
Accounts receivable
29,000
Inventory
35,000
Furniture
38,000
Accumulated amortization?furniture
$27,000
Accounts payable
5,200
Interest payable
660
Unearned sales revenue
2,800
Note payable, long-term
47,000
Preston Gunwold, capital
48,640
Preston Gunwold, withdrawals
56,000
Sales revenue
264,000
Interest revenue
3,200
Sales discounts
14,000
Sales returns and allowances
8,600
Cost of goods sold
89,000
Operating expenses
118,000
Interest expense
4,100
Total
$398,500
$398,500
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