How many of the accounts would appear in the gathering sound

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Consider the following selected account balances of The Gathering Sound, Inc. at the end of the year:

Cost of Sales $7,950

Rent Expense $4,020

Utilities Payable $400

Cash $20,700

Sales $1,700

Accounts Receivable $3,060

Retained Earnings $12,900

Prepaid Insurance $3,250

Utilities Expense $800

Common Stock $7,005

Problem 1: How many of these accounts would appear in The Gathering Sound's year-end balance sheet?

Option 1: Three

Option 2: Four

Option 3: Five

Option 4: Six

Option 5: Seven

Reference no: EM132614927

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