The Following Accounts Are on the Balance Sheet Section of Great

question 90

Essay

The following accounts are on the Balance Sheet section of Great Lakes Camping worksheet for the month ended January 31,200x.Required: Prepare a classified balance sheet.
$$\begin{array} { | l | l | l | } \hline \text { Account } & \text { Balance Sheet Debit } & \text { Balance Sheet Credit } \\\hline \text { Cash } & 2 & \\\hline \text { Accounts Receivable } & 14 & \\\hline \text { Merchandise Inventory } & 12 & \\\hline \text { Store Equipment } & 6 & \\\hline \text { Accumulated Depreciation - Store } & & \\ \text { Equipment } & & 2 \\\hline \text { Accounts Payable } & & 3\\\hline \text { Mortgage Payable } & &16 \\\hline \text { Great Lakes, Capital } & &2 \\\hline\end{array}$$ Additional information: Withdrawals for the period are $2,and Net Income is $3.

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