The account balances of Wilson Towing Service at June 30, 2023, follow:

Required

1. Prepare the balance sheet for Wilson Towing Service as of June 30, 2023.

2. What does the balance sheet report?

Transcribed Image Text:

Equipment.............. Office Supplies............. Note Payable... Rent Expense... Cash J. Wilson, Withdrawals. www $ 25,850 Service Revenue..... Accounts Receivable. 6,800 Accounts Payable...... 1,000 900 J. Wilson, Capital, June 1, 2023..... 1,400 Salaries Expense.... 3,500 $ 15,000 9,000 8,000 3,250 2,400