Homework answers / question archive / The following balance were taken from the books of(giiiksljrnited on December 31, 2020  Interest Income $140,000 Cash $80,000 Sale Revenue $2,240,000 Accounts Receivable $244,000 Prepaid Insurance $32,000 Sales Return and Allowances $236,000 Allowance for Doubtful Accounts $12

The following balance were taken from the books of(giiiksljrnited on December 31, 2020  Interest Income $140,000 Cash $80,000 Sale Revenue $2,240,000 Accounts Receivable $244,000 Prepaid Insurance $32,000 Sales Return and Allowances $236,000 Allowance for Doubtful Accounts $12

Accounting

Share With

The following balance were taken from the books of(giiiksljrnited on December 31, 2020 
Interest Income $140,000 Cash $80,000 Sale Revenue $2,240,000 Accounts Receivable $244,000 Prepaid Insurance $32,000 Sales Return and Allowances $236,000 Allowance for Doubtful Accounts $12.000 Sales Discounts 080.000 Land $160,000 Equipment $320,000 Building $230,000 Cost of goods Sold $1.008,000 
Accumulated depreciation - equipment $64,000 Accumulated depreciation - buildings $46,000 Notes Receivable $250,000 Selling expenses $320,000 Accounts Payable $280.000 Bonds Payable $162,000 Administrative expenses 8160.000 Accrued Liabilities 532.000 Interest expense 5100,000 Notes Payable $160,000 Loss-other (Storm) 5248,000 Depreciation expense 5100.000 Assume a total effective tax rate on all items is 25%