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The adjusted trial balance for Concord at December 31, 2019, contains the following accounts

Accounting

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The adjusted trial balance for Concord at December 31, 2019, contains the following accounts.

Debit

Credit

Buildings$128,500 Common Stock$91,750Accounts Receivable14,600Retained Earnings26,050Prepaid Insurance5,000Accumulated Depreciation—Buildings42,700Cash20,000Accounts Payable11,500Equipment61,200Notes Payable96,100Land66,700Accumulated Depreciation—Equipment18,400Insurance Expense700Interest Payable2,700Depreciation Expense7,000Service Revenue17,200Interest Expense2,700  $306,400$280,350

(a)

Prepare classified balance sheet; assume that $22,000 of the note payable will be paid in 2020. (List Property, plant and equipment in order of land, buildings and equipment. List Current Assets in order of liquidity.)