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Selected accounts from Bennett Co.'s adjusted trial balance for the year ended December 31 follow. $ 3,900 Prepaid rent Accounts receivable $ 2,400 17,000 1,200
Selected accounts from Bennett Co.'s adjusted trial balance for the year ended December 31 follow. $ 3,900 Prepaid rent Accounts receivable $ 2,400 17,000 1,200 Accounts payable Allowance for doubtful accounts Notes payable (due in 10 years) Notes receivable (due in 4 years) Cash 26,000 9,000 Total equity 34,700 3,400 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 0 Long-term investments Total assets $ 0 Liabilities Current liabilities Long-term liabilities 0 Total liabilities Equity Total equity Total liabilities and equity $ 0
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