djusted trial balance of Cullumber Company for the year ended December 31, 2022, is as follows:     Debit   Credit Cash   $ 6,900     Accounts Receivable   2,800     Notes Receivable   7,100     Inventory   9,500     Equipment

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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he adjusted trial balance of Cullumber Company for the year ended December 31, 2022, is as follows:

    Debit   Credit

Cash

  $ 6,900    

Accounts Receivable

  2,800    

Notes Receivable

  7,100    

Inventory

  9,500    

Equipment

  8,300    

Allowance for Doubtful Accounts

      $ 400

Accumulated Depreciation—Equipment

      1,400

Notes Payable

      1,400

Accounts Payable

      700

Common Stock

      16,800

Retained Earnings

      11,500

Dividends

  1,700    

Sales Revenue

      15,000

Interest Revenue

      100

Cost of Goods Sold

  8,000    

Salary and Wages Expense

  2,000    

Rent Expense

  900    

Bad Debt Expense

  70    

Service Charge Expense

  30    
    $ 47,300   $ 47,300

Attempts: 2 of 3 used

(a3)

Prepare a classified balance sheet. The notes payable is due on January 10, 2023. (List Current Assets in order of liquidity.)

 

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