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The following is a December 31, 2024, post-closing trial balance for the Jackson Corporation. Account Title Cash Accounts receivable Inventory Prepaid rent (for the
The following is a December 31, 2024, post-closing trial balance for the Jackson Corporation. Account Title Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Machinery Accumulated depreciation Patent (net) Debits $ 47,000 Credits 41,000 82,000 23,000 17,000 180,000 $ 18,000 86,000 11,500 Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals Required: 7,500 39,000 210,000 100,000 90,000 $ 476,000 $476,000 Prepare a classified balance sheet for Jackson Corporation at December 31, 2024, by properly classifying each of the acc Note: Amounts to be deducted should be indicated by a minus sign. JACKSON CORPORATION Balance Sheet At December 31, 2024 Current assets: Assets
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