Supplement to PP1 chapter 4AssetsCash Accounts ReceivableBal. 44,200 Bal. 27,250(5) 34,150 (3) 11,750 (1) 85,000 (5) 34,150(4) 20,600(6) 38,950(7) 3,200Bal. 3,850 Bal. 78,100Merchandize inventory Prepaid insuranceBal. 68,150 Bal. 400(2) 46,300 (12) 36,500 (8) 50Bal. 77,950 Bal. 350Equipment Accumulated depreciationBal. 210,000 Bal. 84,000(9) 1,750Bal. 210,000 Bal. 85,750LiabilitiesAccounts payable Note PayableBal. 33,100 Bal. 5,000(6) 38,950 (2) 46,300Bal. 40,450 Bal. 5,000Salaries payable Interest payableBal. 1,250 (11) 50(9) 1,600Bal. 2,850 Bal. 50Shareholders’ EquityRetained Earnings Common stockBal. 76,650 Bal. 150,000CE 9,500Bal. 86,150 Bal. 150,000Revenues and ExpensesRent Expense Sales Revenue(3) 11,750 (1) 85,000CE 11,750 CE 85,000Bal. 0 Bal. 0Miscellaneous Expenses Insurance Expense(7) 3,200 (8) 50CE 3,200 CE 50Bal. 0 Bal. 0Depreciation Expense Interest Expense(9) 1,750 (11) 50CE 1,750 CE 50Bal. 0 Bal. 0Salary expense Cost of Goods sold(4) 20,600 (12) 36,500(10) 1,600CE 22,200 CE 36,500Bal. 0 Bal. 0Income
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