The following are the trial balance and the other information
related to Bruce Sheffield, who operates a construction hauling
business.
SHEFFIELD
TRIAL BALANCE
DECEMBER 31, 2020
Debit
Credit
Cash
$35,500
Accounts Receivable
50,800
Allowance for Doubtful Accounts
$2,650
Supplies
3,080
Prepaid Insurance
1,400
Equipment
34,500
Accumulated
Depreciation—Equipment
4,500
Notes Payable
8,400
Owner’s Capital
45,700
Service Revenue
103,610
Rent Expense
6,500
Salaries and Wages Expense
30,900
Utilities Expenses
1,320
Office Expense
860
$164,860
$164,860
1.
Fees received in advance from
clients...