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The following are the adjusted account balances Sierra Manufacturing for the year ended December 31, 2020. All accounts have a normal balance. Required: Prepare in

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The following are the adjusted account balances Sierra Manufacturing for the year ended December 31, 2020. All accounts have a normal balance. Required: Prepare in good form, the Classified Balance Sheet at December 31, 2020. Note that the Profit for the year was $9,050. Accounts payable 3,000 Prepaid insurance 650 Accounts receivable 2,500 Rent expense 15,000 Accumulated depreciation - computers 2,000 S. Michaels, capital 20,500 Accumulated depreciation - shop equipment 3,500 S. Michaels, drawings 7,000 Cash 15,350 Service revenue 99,000 Computers 6,000 Shop equipment 16,800 Depreciation expense 2,800 Supplies 1,250 Insurance expense 2,500 Supplies expense 4,500 Interest expense 150 Wages expense 65,000 Note payable (Due June 30, 2022) 12,000 Unearned revenue 6,000 Note receivable (Due February 28, 2021) 6,500

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