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The adjusted trial balance for Navajo Company is presented below NAVAJO COMPANY Adjusted Trial Balance July 31, 2019 Credits Debits No. Account Titles 101 Cash
The adjusted trial balance for Navajo Company is presented below NAVAJO COMPANY Adjusted Trial Balance July 31, 2019 Credits Debits No. Account Titles 101 Cash $ 16,000 9,000 25,000 112 Accounts Receivable 157 Equipment 167 Accumulated Depreciation 201 Accounts Payable 208 Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense $ 8,000 4,500 2,000 22,000 27,500 Equip 17,000 64,000 11,000 5,000 57,000 10,000 720 Salaries and Wages Expense 732 Utilities Expense S139,000 S139.000 Navajo made an error during year when they debited Utilities Expense for $2,000 instead of Equipment for a cash purchase of equipment. In addition, Navajo failed to accrue $4,000 of Service Revenue Instructions: a) Prepare an income statement and a retained earnings statement for the year. b) Prepare a classified balance sheet at July 31
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