The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company.

Seved Problem 5-5A Preparing adjusting entries and income statements; computing gross margin, acid-test and current ratios LO A1, A2, P3, P4 The following information applies to the questions displayed below. The following unadjusted tial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2017 Debit Credit Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-Store equipment Accounts payable J. Nelson, Capital J. Nelson, withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold $3,350 14,500 5,700 2,100 43,000 s 18,050 18,000 18,000 2,200 114, 750 2,050 2,200 38,000 Depreciation expense-store equipment Salaries expense 32, 000 Insurance expense Rent expense Store supplies expense 14,000 Next >