From the ledger balances given below, prepare a trial balance for the Cleland Company at June 30,

Question:

From the ledger balances given below, prepare a trial balance for the Cleland Company at June 30, 2010. List the accounts in the order shown on page 61 of the text. All account balances are normal. $9,000, Cash $8,800, Cleland, Capital $20,000; Cleland, Drawing $1,200; Equipment $17,000, Service Revenue $8,000, $3,000, Salaries Expense $6,000, and Rent Expense $1,000.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...