Single-step income statement and account form of balance sheet Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Journal Instructions The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2019: Cash $240,000 Accounts Receivable. 966,000 Merchandise Inventory 1,690,000 Estimated Returns Inventory 22,500 Office Supplies 13,500 Prepaid Insurance 8,000 Office Equipment 830,000 Accumulated Depreciation-Office Equipment 550,000 Store Equipment 3,600,000 Accumulated Depreciation-Store Equipment 1,820,000 Accounts Payable 326,000 Customer Refunds Payable 40,000 Salaries Payable 41,500 Note Payable (final payment due 2022) 300,000 Kristina Marble, Capital 3,449,100