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QUESTION 3 The following account information relates to December 20XX trial balance. Cash $ 22,000 Debit Balance Accounts Receivable $ 18,000 Debit Balance Property, Plant,
QUESTION 3 | ||||||
The following account information relates to December 20XX trial balance. | ||||||
Cash | $ 22,000 | Debit Balance | ||||
Accounts Receivable | $ 18,000 | Debit Balance | ||||
Property, Plant, & Equipment | $ 3,400,000 | Debit Balance | ||||
Other Assets | $ 5,000 | Debit balance | ||||
TOTAL ASSETS | ||||||
Line of Credit | $ 2,000,000 | Credit balance | ||||
PPP Loan | $ 150,000 | Credit balance | ||||
Capital | $ 478,500 | Credit balance | ||||
TOAL LIAB / OE | ||||||
What is the amount that should be recorded in accumulated depreciation | ||||||
property, plant, and equipment (the balance sheet is in balance)? |
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