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Question 3 (35 marks) A- On December 31, 2019, after its first month of business, Taylor Industries had the following balances in its accounts, listed

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Question 3 (35 marks) A- On December 31, 2019, after its first month of business, Taylor Industries had the following balances in its accounts, listed alphabetically. Accounts Payable $ 12,000 Accounts Receivable 15,000 Advertising Expense 1,000 Building 150,000 Cash Common Stock 100,000 Dividends 14.000 Equipment 30,000 Land 60,000 Notes Payable 125,000 Office Supplies 3,500 Salaries Expense 1,500 Service Revenue 104,000 Utilities Expense 2,000 Instructions: Determine the balance in the cash account and prepare the trial balance. (15 marks)

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