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Question - Below is Galt Services' financial accounting information for the year ending September 30, 2018.
Cash $8,250
Equipment $36,570
Accounts Payable $4,970
Accounts Receivable $3,640
Accumulated Depreciation $710
Unearned Revenue $1,100
Inventory $7,350
Prepaid Insurance $2,220
Notes Payable $24,000
Presto, Capital $27,250
The note is payable over 3 years and $8,000 will be paid by September 30, 2019.
Required - Prepare a classified balance sheet using the balances listed.
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