Baxter and Mandy have been operating a partnership for a few years. The partnership has

provided the trial balance below as at Dec $31,2023.$

BAXDY CONSULTANTS

TRIAL BALANCE

AS AT DEC $31,2023$

Additional Information:

The short$-$term notes payable is a $90-$day $6\%$ note that was issued on November $1,2023.$

The accrued interest has not yet been recorded.

The long$-$term note payable is a non$-$interest$-$bearing note that was issued on January $1,$

$2023$ for $$600,000.$ An installment of $$150,000$ is due every Dec $15.$ The installment that was

due Dec $15,2023$ was paid and properly recorded.

The partners have agreed to share profits and losses as follows:

Annual salaries allowances of $$40,000$ and $$60,000$ to Baxter and Mandy

respectively.

Interest allowances of $18\%$ of the beginning of year capital balances. The

balances shown on the trial balance are the beginning of year capital

balances

Any remaining balance shared in a $3$:$4$ ratio to Baxter and Mandy,

respectively.

REQUIRED: Prepare a classified balance sheet for the partnership as at Dec $31,2023$

$22104852$

mand'y

$294731243$