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The trial balance of Bellemy Fashion Center contained the following accounts at November 30, the end of the companys fiscal year. Problem 3-4 (Part Level

The trial balance of Bellemy Fashion Center contained the following accounts at November 30, the end of the companys fiscal year.

Problem 3-4 (Part Level Submission)

The trial balance of Bellemy Fashion Center contained the following accounts at November 30, the end of the companys fiscal year.

BELLEMY FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2014

Debit

Credit

Cash

$33,380

Accounts Receivable

36,900

Inventory

48,200

Supplies

8,700

Equipment

139,400

Accumulated Depreciation-Equipment

$26,960

Notes Payable

54,200

Accounts Payable

51,700

Common Stock

93,200

Retained Earnings

11,200

Sales Revenue

765,080

Sales Returns and Allowances

4,200

Cost of Goods Sold

495,400

Salaries and Wages Expense

138,890

Advertising Expense

27,880

Utilities Expenses

15,110

Maintenance and Repairs Expense

12,100

Delivery Expense

16,700

Rent Expense

25,480

Totals

$1,002,340

$1,002,340

Adjustment data:

1.

Supplies on hand totaled $4,700.

2.

Depreciation is $17,220 on the equipment.

3.

Interest of $15,370 is accrued on notes payable at November 30.

Other data:

1.

Salaries expense is 70% selling and 30% administrative.

2.

Rent expense and utilities expenses are 80% selling and 20% administrative.

3.

$30,000 of notes payable are due for payment next year.

4.

Maintenance and repairs expense is 100% administrative.

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