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The following trial balance was taken from the books of COVID Co. on December 31, 2021 (debit equals to credit). Account Debit Credit Cash
The following trial balance was taken from the books of COVID Co. on December 31, 2021 (debit equals to credit). Account Debit Credit Cash 12,000 Accounts Receivable 40,000 Note Receivable 7,000 Allowance for Doubtful Accounts 1,800 Inventory 44,000 Prepaid Insurance 4,800 Equipment 105,000 Accumulated Depreciation-Equip. Accounts Payable Share Capital-Ordinary Retained Earnings Sales Revenue I 15,000 10,800 44,000 55,000 ? Cost of Goods Sold 111,000 Salaries and Wages Expense 50,000 Rent Expense 12,800 Totals 386.600 2
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