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Required information (The following information applies to the questions displayed below.) On January 1, Year 1, the general ledger of a company includes the following
Required information (The following information applies to the questions displayed below.) On January 1, Year 1, the general ledger of a company includes the following account balances: Accounts Debit Credit Cash $ 27,900 Accounts Receivable 15,600 Allowance for Uncollectible Accounts $ 1,700 Supplies 4,500 Notes Receivable (6%, due in 2 years) 24,000 Land 80,900 Accounts Payable 12,800 Common Stock 104,000 Retained Earnings 34,400 Totals $152,900 $152,900 During January Year 1, the following transactions occur: January 2 Provide services to customers for cash, $55,100. January 6 Provide services to customers on account, $92,400. January 15 Write off accounts receivable as uncollectible, $4,500. January 20 Pay cash for salaries, $33,400. January 22 Receive cash on accounts receivable, $90,000. January 25 Pay cash on accounts payable, $7,500. January 30 Pay cash for utilities during January, $15,700. 3. Prepare an adjusted trial balance as of January 31, Year 1. Adjusted Trial Balance January 31, Year 1 Accounts Debit Credit
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