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Selected accounts from Bennett Co.'s adjusted trial balance for the year ended December 31 follow. Prepaid rent Accounts receivable Cash Total equity $ 2,100 15,500

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Selected accounts from Bennett Co.'s adjusted trial balance for the year ended December 31 follow. Prepaid rent Accounts receivable Cash Total equity $ 2,100 15,500 23,000 31,700 Accounts payable Allowance for doubtful accounts Notes payable (due in 10 years) Notes receivable (due in 4 years) $ 3,600 1,300 7,000 3,000 Prepare a classified balance sheet. Note: Allowance for doubtful accounts is subtracted from accounts receivable on the company's balance sheet. BENNETT CO. Balance Sheet December 31 Assets Current assets Total current assets Long-term investments Total assets Liabilities Current liabilities Long-term liabilities Total liabilities Equity Total equity Total liabilities and equity

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