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Presented below is selected information related to Lance Company at December 31, 2012

Accounting

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Presented below is selected information related to Lance Company at December 31, 2012. Lance reports financial information monthly. a. Accounts Payable $3,000 b. Salaries and Wages Expense $16,500 c. Cash $4,500 d. Notes Payable $25,000 e. Advertising Expense $6,000 f. Rent Expense $10,500 g. Service Revenue $51,500 h. Accounts Receivable $13,500 i. Equipment $29,000