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The adjusted trial balance for Carter Bowling Alley at December 31, 2020, contains the following accounts.
Debits
Credits
Buildings
$128,800
Owner's Capital
$113,000
Accounts Receivable
14,520
Accumulated Depreciation-Buildings
42,600
Prepaid Insurance
4,680
Accounts Payable
12,300
Cash
18,040
Notes Payable
97,780
Equipment
62,400
Accumulated Depredation-Equipment
18,720
Land
65,000
Interest Payable
3,800
Insurance Expense
780
Service Revenue
17,180
Depreciation Expense
7,360
Interest Expense
$305,380
Question (a) Prepare a classi?ed balance sheet; assume that $30,000 of the note payable will be paid in 2021. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.)
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