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The following accounts appear on the worksheet of Commonwealth Crafts at December 31, 20X1. Indicate the section of the classified balance sheet in which
The following accounts appear on the worksheet of Commonwealth Crafts at December 31, 20X1. Indicate the section of the classified balance sheet in which each account will be reported. Accounts 1. Accounts receivable 2. Truck 3. Prepaid rent 4. Notes payable, due 20X5 5. Office supplies 6. Accounts payable 7. Merchandise inventory 8. John O'Hare, Capital 9. Cash 10. Unearned revenue 11. Notes receivable, due 20X2 12. Accumulated depreciation-Truck 13. Notes payable, due 20X2 14. John O'Hare, Drawing 15. Interest payable Section of Classified Balance Sheet
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