Walley widget company incorporated near the end of 2011. Operations in January of 2012. WWC prepared adjusting entries and financial statements at the end of each month. Balances in the Accounts at the end are as follows.

Cash $19970

AR $11000.00

ADA : $(1350)

Inventory (45) units

Unearned revenue (40 units) 4800

Accounts payable 2200.00

Notes payable 14500

Contributed capital 5900

Retained earnings 5370