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Salt Creek Golf Inc. was organized on July 1, 2017. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on September 30

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Salt Creek Golf Inc. was organized on July 1, 2017. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on September 30 are shown here. SALT CREEK GOLF INC. Trial Balance September 30, 2017 Adjusted Unadjusted Dr. Cr Dr. Cr. $ 6,350 6,350 Cash 540 Accounts Receivable 1,170 350 Supplies 1,200 1,700 850 Prepaid Rent 18,000 18,000 Equipment Accumulated Depreciation -Equipment $ 360 Notes Payable 6,000 6.000 1,700 1,700 Accounts Payable Salaries and Wages Payable 630 60 Interest Payable 1.480 880 Unearned Rent Revenue 17,000 17,000 Common Stock C Retained Earnings 550 550 Dividends Service Revenue 16,700 17,330 1,020 1,620 Rent Revenue Salaries and Wages Expense 8,810 9,440 800 1,650 Rent Expense Depreciation Expense 360 Supplies Expense 850 5,950 5,950 Utilities Expense 60 Interest Expense $43,900 $43,900 $45,580 $45,580 Prepare a classified balance sheet at September 30. (List current assets in order of liquidity.) SALT CREEK GOLF INC. Balance Sheet September 30, 2017 Assets Current Assets 6,350 Cash $ 1,170 Accounts Receivable 350 Supplies 850 Prepaid Rent 8720 Total Current Assets Total Intangible Assets 18,000 Equipment Less 360 17640 Accumulated Depreciation-Equipment 26360 Total Assets Liabilities and Stockholders' Equity Current Liabilities 1,700 Accounts Payable Salaries and Wages Payable 630 60 Interest Payable 880 Unearned Rent Revenue Notes Payable 6,000 9270 Total Current Liabilities Stockholders' Equity 17,000 Common Stock Retained Earnings 90 17090 Total Stockholders' Equity 26360 Total Liabilities and Stockholders' Equity Identify which accounts should be closed on September 30 Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Supplies nse Utilities Expense Interest Expense If the note bears interest at 12%, how many months has it been outstanding? month(s) The note has been outstanding for

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