Question 6 Not yet answered Marked out of 1.00 P Flag question Trial balance The following transactions took place for Smart Ltd during the current accounting period: 1. Paid the electricity bill of $11000 for the current the period. 2. Purchased $2300 worth of office supplies on credit. The business treats the office supplies as expenses when purchased. 3. Paid wages for the current period of $11100. 4. Paid $5600 in rent for the next period. 5. Received $11500 cash from customers that paid in advance for goods to be sold to them next period. 6. Sold inventory goods for $49500 on credit. The original cost of those goods was $32175 7. Inventory worth $37000 is bought on account. Assume that the following opening balances existed in the balance sheet for Smart Ltd at the beginning of the current period: Account name Opening balance Cash $47000 Inventory $41675 Accounts receivable $59000 Accounts payable $55500 Share capital $66000 Retained earnings There are no dividends declared for the current period and no reserve accounts under equity. Required: Prepare the trial balance after the effects of the above transactions were recorded. Important: - List the accounts involved in alphabetical order. - Do not include "$" sign or any thousands separators, i.e. $46,000 should be written as 46000. Smart Ltd Trial balance as at 30 June 2020 Name of account Dr Cr