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The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company. Credits Account Title Cash Accounts receivable Inventories Prepaid
The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company. Credits Account Title Cash Accounts receivable Inventories Prepaid expenses Machinery and equipment Accumulated depreciation-equipment Investments Accounts payable Interest payable Deferred revenue Taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits 85,000 180,000 295,000 168,000 340,000 120,000 160,000 70,000 30,000 90,000 40,000 250,000 26,000 410,000 192,000 1,228,000 l,228,000 Additional information: 1. Prepaid expenses include $140,000 paid on December 31, 2018, for a two-year lease on the building that houses both the administrative offices and the manufacturing facility 2. Investments include $40,000 in Treasury bills purchased on November 30, 2018. The bills mature on January 30, 2019. The remaining $120.000 includes investments in marketable equity securities that the companv intends to sell in the next vear
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