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Selected accounts from Bennett Companys adjusted trial balance for the year ended December 31 follow. Prepaid rent $ 1,700 Accounts payable $ 3,200 Accounts receivable
Selected accounts from Bennett Companys adjusted trial balance for the year ended December 31 follow.
Prepaid rent $ 1,700 Accounts payable $ 3,200
Accounts receivable 13,500 Allowance for doubtful accounts 900
Cash 19,000 Notes payable (due in 10 years) 6,400
Total equity 27,700 Notes receivable (due in 4 years) 4,000
Prepare a classified balance sheet. Note: Allowance for doubtful accounts is subtracted from accounts receivable on the companys balance sheet.
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