The Following Accounts Are on the Balance Sheet Section of Appleton

question 27

Essay

The following accounts are on the Balance Sheet section of Appleton Company worksheet for the month ended July 31, 2019. Required: Prepare a classified $$\begin{array}{l}\text { BALANCE SHEET }\\\begin{array} { l r r } \text { ACCOUNT } & \text { Debit } & \text { Credit } \\\hline \text { Cash } & 3 & \\\text { Accounts Receivable } & 5 & \\\text { Merchandise Inventory } & 7 & \\\text { Store Equipment } & 15 & \\\text { Accum. Dep., Store Equip. } & & 3 \\\text { Accounts Payable } & & 7 \\\text { Mortgage Payable } & & 12 \\\text { Appleton, Capital } & & 4 \\\hline\end{array}\end{array}$$ Additional information Withdrawals for the period are $2, and Net Income is $6.

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