Question
Qwik Company showed the following balances at the end of its first year: Money $8700 prepaid insurance 9400 accounts receivable 7000 Accounts payable 5800 Pay
Qwik Company showed the following balances at the end of its first year:
| Money | $8700 |
| prepaid insurance | 9400 |
| accounts receivable | 7000 |
| Accounts payable | 5800 |
| Pay | 9400 |
| owner's equity | 2300 |
| owner's drawings | 1400 |
| Income | 44000 |
| Bills | 35000 |
Assuming that all accounts have a normal balance, what is the total of the accounts with a credit balance?
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
78025915, 978-1259115400, 1259115402, 978-0078025914
