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Prepare a Trial balance at December

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Question - The balance of ABC Inc.'s accounts all have a normal balance and the following amounts at December 31, 2021:

Account receivable

$27,650

Account payable

$48,200

Bank loan (9 months remaining)

$13,875

Building

$355,000

Cash

$7,500

Common Shares

$155,000

Cost of Goods Sold

$53,700

Dividends

$2,500

Equipment

$42,000

Interest expense

$180

Inventory

$22,075

Patent

$12,000

Rent expense

$2,400

Retained Earnings (beginning)

$83,500

Salary expense

$58,000

Sales revenue

$283,200

Sales discount

$675

Supplies expense

$920

Unearned revenues

$825

Required - Prepare a Trial balance at December 31, 2021.

Reference no: EM133127654

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