AutoSave OFF Home Insert Draw Chapter 02 b - GRAY CO (used in Chps 2 to 6) Wras Text General Insert v Delete Merge & Center %" Conditional Format Formatting as Table Styles Cell Format v Page Layout Formulas Datal Review View Tell me v 12 AA G v A v Arial [A v Poste BI U v F45 Adjusting : x fx Post to Ledger Feb 28 Retained Eamings Interest Payable 40 Adjusting entry for intemat due the bank for Feb. jbank did not charge int, for Jan) Prepare the Trial Balance Prepare the Balance Sheet 40 www Gray Co., Inc. Balance Sheet as of February 28, 2021 Assets: Cash $6,400 Accounts Rec. Inventory 3,000 7.500 Equipment 5,000 Total Assets 521,900 Liabilities: Note Payable $8,000 Interest Payable Total Liabilities Equity: 40 8,040 Common Stock Ret. Earrings Total Equity Total Lab Equity 10.000 3,850 13.80 $21,900 Trial Balance Account Name Debt Credit Cash 6.400 Accounts Rec. 3.000 Inventory 7,500 Equipment 5.000 Note Payable Interest Payable Common Stock Ret.Earings 8,000 40 10,000 3,860 Total 21,900 January Feb No Rev-Exp February Feb Close March Mar Close Ready + 21,900 W Share Comments Sort & v Filter Find & Select Analyze Data Sensitivity 11071