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Question - The adjusted trial balance for Concord at December 31, 2019, contains the following accounts.
Debit Credit
Buildings $128,500
Common Stock $91,750
Accounts Receivable 14,600
Retained Earnings 26,050
Prepaid Insurance 5,000
Accumulated Depreciation-Buildings 42,700
Cash 20,000
Accounts Payable 11,500
Equipment 61,200
Notes Payable 96,100
Land 66,700
Accumulated Depreciation-Equipment 18,400
Insurance Expense 700
Interest Payable 2,700
Depreciation Expense 7,000
Service Revenue 17,200
Interest Expense 2,700
$306,400 $280,350
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