Use the following selected accounts and amounts with normal balances from Andrea Co. to prepare its classified
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Use the following selected accounts and amounts with normal balances from Andrea Co. to prepare its classified balance sheet at December 31.
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$ 8,000 30,000 13,000 Accounts payable Accounts receivable. $ 4,000 Land. . Accumulated depreciation-Machinery. Notes payable (due in 7 years) Long-term investments in bonds.. Notes receivable (due in 4 years) Merchandise inventory... 16,000 29,000 7,000 15,000 Cash Salaries payable. S. Andrea, Capital. Machinery .. Prepaid insurance... 1,000 42,000 20,000 2,000 5,000
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