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Use the following adjusted trial balance of Hay Co. to prepare a classified balance sheet as of December 31, 2020. Account Title Debit Credit Cash
Use the following adjusted trial balance of Hay Co. to prepare a classified balance sheet as of December 31, 2020.
Account Title | Debit | Credit | ||||
Cash | $ | 12,400 | ||||
Accounts receivable | 29,000 | |||||
Office supplies | 2,500 | |||||
Trucks | 164,000 | |||||
Accumulated depreciation, trucks | $ | 45,400 | ||||
Land | 269,000 | |||||
Accounts payable | 30,400 | |||||
Interest payable | 340 | |||||
Long-term notes payable (due in 4 years) | 146,000 | |||||
Stanley Hanson, capital | 200,260 | |||||
Stanley Hanson, withdrawals | 18,400 | |||||
Trucking revenue | 162,000 | |||||
Depreciation expense, trucks | 21,900 | |||||
Salaries expense | 55,000 | |||||
Office supplies expense | 5,900 | |||||
Repairs expense, trucks | 6,300 | |||||
Total | $ | 584,400 | $ | 584,400 | ||
Required:
Prepare a classified balance sheet.
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