BUS3061 Fundamentals of Accounting Southwest Business School Adjusted Trial Balance December 31 20XX Debit ($) Credit ($) Cash 26,000 Accounts receivable 7,500 Teaching supplies 2,600 Prepaid insurance 12,000 Prepaid rent 0 Professional library

BUS3061 Fundamentals of Accounting

Southwest Business School Adjusted Trial Balance December 31 20XX
	Debit ($)	Credit ($)
Cash...............................................................................................	26,000
Accounts receivable......................................................................	7,500
Teaching supplies..........................................................................	2,600
Prepaid insurance..........................................................................	12,000
Prepaid rent....................................................................................	0
Professional library........................................................................	30,000
Accumulated depreciation—Professional library..........................		15,000
Equipment......................................................................................	70,000
Accumulated depreciation—Equipment........................................		28,000
Accounts payable..........................................................................		36,000
Salaries payable.............................................................................		400
Unearned training fees...................................................................		6,600
Common stock..............................................................................		10,000
Retained earnings..........................................................................		53,600
Dividends.......................................................................................	40,000
Tuition fees earned......................................................................		1,09,500
Training fees earned...................................................................		42,400
Depreciation expense—Professional library............................	6,000
Depreciation expense—Equipment...........................................	12,000
Salaries expense..........................................................................	48,400
Insurance expense.......................................................................	3,000
Rent expense................................................................................	24,000
Teaching supplies expense........................................................	7,400
Advertising expense....................................................................	7,000
Utilities expense...........................................................................	5,600	_______
Totals............................................................................................	$3,01,500	$3,01,500

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BUS3061 Fundamentals of Accounting Southwest Business School Adjusted Trial Balance December 31 20XX Debit ($) Credit ($) Cash 26,000 Accounts receivable 7,500 Teaching supplies 2,600 Prepaid insurance 12,000 Prepaid rent 0 Professional library

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