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The following is a December 31, 2016. post-closing trial balance for the Alexandria Exploration Corporation. Accounts receivable includes a $50,000 note receivable received from a
The following is a December 31, 2016. post-closing trial balance for the Alexandria Exploration Corporation. Accounts receivable includes a $50,000 note receivable received from a customer that is due in 2018. Also included is interest on the note of $3,000 that is due in six months. The land account includes land that cost $20,000 that the company has not used and is currently listed for sale. The investment account includes a $10,000, 3-month certificate of deposit due in 40 days. The remaining investments will be sold within the next year. The bonds payable account consists of the following: a $200,000 issue due in six months. a $300,000 issue due in six years. The common stock account represents 500,000 shares of no par value common stock issued and outstanding. The corporation has 1,000,000 shares authorized. Required: Prepare a classified balance sheet for Alexandria at December 31,2016
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