Purchases Returns and Allowances							3,200
Purchase Discounts							6,755
Freight-in					4,750
Bad Debt Expense					2,670
Insurance Expense					1,600
Interest Expense					21,800
Repairs and Maintenance Expense					7,100
Salaries Expense					35,200
Advertising Expense					5,700
Depreciation Expense					11,815
Depletion Expense					1,200
Amortization Expense					4,000
Utilities Expense					12,710
Rent Revenue							3,600
					11,25,675		11,25,675

Other data:

(1) Inventory on hand at December 31, 2020 (i.e., ending inventory) is $94,750

(5) Portion of Notes Payable payable in the next year: $25,000

(6) Missy Mops contributions to the business in 2020 were $5,250

Prepare Classified Balance Sheet, Multi-step Income Statement, Statement of Owner's Equity and Closing Entries

2 Cr. 3,450 16,865 2 Missy Mops, Inc. 3 Adjusted Trial Balance 4 December 31, 2020 5 6 7 Dr. 8 Cash 32,425 9 Accounts Receivable 34,740 10 Allowance for Doubtful Accounts 11 Merchandise Inventory (beginning) 56,725 12 Prepaid Insurance 14,700 13 Land 1,20,000 14 Office Equipment 46,000 15 Accumulated Depreciation Office Equipment 16 Buildings 3,50,000 17 Accumulated Depreciation-Buildings 18 Timber 17,000 19 Accumulated Depletion-Timber 20 Patent 12,500 21 Accounts Payable 22 Salaries Payable 23 Interest Payable 24 Customer Refunds Payable 25 Unearned Rent 26 Notes Payable 27 Capital, Missy Mops 28 Missy Mops, Drawings 7,400 29 Sales 30 Purchases 3,25,640 31 Purchases Returns and Allowances 48,125 2,700 36,800 6,200 1,500 6,150 2,000 2,50,000 2,55,430 4,82,900 3,200