Post-Closing Trial Balance An accountant prepared the following post-closing trial balance: Security Services Co. Post-Closing Trial Balance July 31, 2018   Debit Balances Credit Balances Cash 12,600       Accounts Receivable 27,970       Supplies     1,760   Equipment     124,610   Accumulated Depreciation - Equipment 41,580       Accounts Payable 15,120       Salaries Payable     1,390   Unearned Rent 5,670       Common Stock 13,500       Retained Earnings 89,680         206,120   127,760   Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct.

Prepaid rent Accounts receivable Cash Comon stock Retained earnings Current assets Prepare a classified balance sheet. Note: Allowance for doubtful accounts is subtracted from accounts receivable on the company's balance sheet. Total assets otal current assets Long-term Investments Current labies BENNETT COMPANY Balance Sheet Long term is Total abilities December 31 Assets Liabilities $ 2,700 Accounts payable 18,500 Allowance for doubtful accounts 29,098 Notes payable (due in 10 years) 13,500 Notes receivable (due in 4 years) 24,200 Equity Total quity Total abilities and equity 5 S 0 0 $ 4,200 1,000 11,400 0

The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31: apr13 Wrote off account of Dean Sheppard, $8,450 may15 Received $500 as partial payment on the $7,100 account of Dan Pyle. Wrote off the remaining balance as uncollectible july27 Received $8,450 from Dean Sheppard, whose account had been written off on April 13. Reinstated the account and recorded the cash receipt. dec31 Wrote off the following accounts as uncollectible (record as one journal entry): 31. If necessary, record the year-end adjusting entry for uncollectible accounts.a. Journalize the transactions under the direct write-off method.b. Journalize the transactions under the allowance method. Shipway Company usesthe percent of credit sales method of estimating uncollectible accounts expense.Based on past history and industry averages, ¾% of credit sales are expected to beuncollectible. Shipway Company recorded $3,778,000 of…