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