(b) Prepare the trial balance after the effects of the above transactions were recorded. List the accounts involved in alphabetical order.
Question
Solution 1
To prepare the trial balance, we list all the accounts and their final balances after the transactions. The accounts are listed in alphabetical order as requested:
| Account name | Debit ($) | Credit ($) |
|---|---|---|
| Accounts payable | 42,700 | |
| Cash | 231,100 | |
| Inventory | 58,000 | |
| Loan payable |
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