9 QS 7-16 Preparing a balance sheet LO P2, P4, C3 1 points Selected accounts from Bennett Co.'s adjusted trial balance for the year ended December 31 follow. Prepaid rent Accounts receivable Cash Total equity $ 1,800 14,000 20,000 28,700 Accounts payable Allowance for doubtful accounts Notes payable (due in 10 years) Notes receivable (due in 4 years) $ 3,300 1,000 6,500 3,700 eBook Ask Prepare a classified balance sheet. Note: Allowance for doubtful accounts is subtracted from accounts receivable on the company's balance sheet. References BENNETT CO. Balance Sheet December 31 Assets Current assets Total current assets Long-term investments Total assets Liabilities Current liabilities Long-term liabilities Total liabilities Equity Total equity Total liabilities and equity