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Psymon Company, Inc. sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger
Psymon Company, Inc. sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Debits $ 47,250 20,000 72,500 55,000 Credits Account Titles Cash Accounts Receivable Property and Equipment Accumulated Depreciation Liabilities Common Stock Retained Earnings, January 1 Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salaries and Wages Expense Office Expense Interest Expenses Income Tax Expense $ 23,100 33,500 00,000 12,600 204,500 7,500 9,000 110,000 9,000 20,000 2,500 10,950 Totals $373,700 $373,700
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