Presented below is the December 31 trial balance of New York Boutique.
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Followings are t T-accounts and their balances
Cash
| Bal 18,290 |
Accounts Receivable
| Bal 40,800 |
Allow. for Doubtful Accts.
| Bal 740 |
Inventory
| Bal 83,150 |
Prepaid Insurance
| Bal 6920 |
Equipment
| Bal 91,000 |
Accumulated Depreciation—Equipment
| Bal 32,950 |
Notes payable
| Bal 28,710 |
Common Stock
| Bal 82,710 |
Retained earning
| Bal 10,870 |
Sales Revenue
| Cls 645,350 | Bal 645,350 |
Cost of Goods Sold
| Bal 422,960 | CLs 422,960 |
Salaries and Wages Expense (sales)
| Bal 51,900 | CLs 51,900 |
| Advertising Expense |
| Bal 6,900 | CLs 6,900 |
Salaries and Wages Expense (administrative)
| Bal 73,110 | CLs 73,110 |
| Supplies Expense |
| Bal 6,300 | CLs 6,300 |
