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Required information [The following information applies to the questions displayed below.) The December 31, Year 1, adjusted trial balance for a company is presented below.

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Required information [The following information applies to the questions displayed below.) The December 31, Year 1, adjusted trial balance for a company is presented below. Accounts Debit Credit Cash $ 11,400 Accounts Receivable 144,000 Prepaid Rent 5,400 Supplies 27,000 Equipment 340,000 Accumulated Depreciation $129,000 Accounts Payable 11,400 Salaries Payable 10,400 Interest Payable 4,400 Notes Payable (due in two years) 34,000 Common Stock 240,000 Retained Earnings 54,000 Service Revenue 440,000 Salaries Expense 340,000 Rent Expense 17,000 Depreciation Expense 34,000 Interest Expense 4,400 Totals $923,200 $923,200 Balance Sheet December 31, Year 1 Assets Liabilities Current assets Current liabilities: . ok int Total current assets Total current liabilities rint Total liabilities Long-term assets: Stockholders' Equity rences Total long-term assets Total assets Total stockholders' equity Total liabilities and stockholders' equity

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