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These items are taken from the financial statements of Concord Corporation at December 31, 2017. Buildings $90,988 Accounts receivable 10,836 Prepaid insurance 2,752 Cash 10,182
These items are taken from the financial statements of Concord Corporation at December 31, 2017.
Buildings | $90,988 | |
Accounts receivable | 10,836 | |
Prepaid insurance | 2,752 | |
Cash | 10,182 | |
Equipment | 70,864 | |
Land | 52,632 | |
Insurance expense | 671 | |
Depreciation expense | 4,558 | |
Interest expense | 2,236 | |
Common stock | 51,600 | |
Retained earnings (January 1, 2017) | 34,400 | |
Accumulated depreciationbuildings | 39,216 | |
Accounts payable | 8,170 | |
Notes payable | 80,496 | |
Accumulated depreciationequipment | 16,099 | |
Interest payable | 3,096 | |
Service revenue | 12,642 |
Prepare a classified balance sheet. Assume that $11,696 of the note payable will be paid in 2018.
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