Place the accounts in correct order The following is Green Co.'s Pre-Closing TrialBalance as of December 31, 2017. Green'saccounting period is a month, thus the balances inthe temporary accounts are forthe month ofDecember 2017. (Note that the accounts are notlisted in their normal sequence -- rather they arelisted in alphabetical sequence.)Account Name_Debit__Credit_Accounts Payable26,000Accounts Receivable28,850Cash10,000Common Stock12,500Cost of Goods Sold68,000Equipment73,000Interest Expense150Interest Payable500Inventory45,000Note Payable21,000Retained Earnings53,000Sales Revenue179,000Supplies Expense7,000Wages Expense60,000Total292,000292,000

Trial balance refers to the type of a financial worksheet which is created in a book-keeping system…

Answered: The following is Green Co.'s…

The following is Green Co.'s Pre-Closing Trial Balance as of December 31, 2017. Green's ccounting period is a month, thus the balances in

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Place the accounts in correct order

The following is Green Co.'s Pre-Closing Trial
Balance as of December 31, 2017. Green's
accounting period is a month, thus the balances in
the temporary accounts are for
the month of
December 2017. (Note that the accounts are not
listed in their normal sequence -- rather they are
listed in alphabetical sequence.)
Account Name
_Debit_
_Credit_
Accounts Payable
26,000
Accounts Receivable
28,850
Cash
10,000
Common Stock
12,500
Cost of Goods Sold
68,000
Equipment
73,000
Interest Expense
150
Interest Payable
500
Inventory
45,000
Note Payable
21,000
Retained Earnings
53,000
Sales Revenue
179,000
Supplies Expense
7,000
Wages Expense
60,000
Total
292,000
292,000

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