Prepare an updated December 31, 2020, trial balance, reflecting the journal entries in part(a).
Prepare an updated December 31, 2020, trial balance, reflecting the journal entries in part(a).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:1.
Cash
Preferred Stock
20000
Pald-in Capital in Excess of Par-Preferred Stock
2000
2. Cash
26400
Common Stock
12000
Paid-in Capital in Excess of Par-Common Stock
14400
3. Treasury Stock
15040
Cash
15040
6244
Dividends Payable
6244
5. IBad Debt Expense
4540
4540
Allowance for Doublful Accounts
3500
6. Depreciation Experise
3500/
13870
7- Depredation Expense
Accumulated Deptediation-Fqupment
8. JUnearred Rent Revenus
4800,
Reht Reverue
2000
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