| Trial Balance | ||
|---|---|---|
| As of December 31, 2023 | ||
| Account | Debit | Credit |
| Accounts payable | $4,500 | |
| Accounts receivable | $7,500 | |
| Accumulated depreciation | $5,000 | |
| Cash | $2,500 | |
| Common stock | $5,000 | |
| Cost of goods sold | $39,500 | |
| Equipment | $15,000 | |
| Inventory | $10,000 | |
| Notes payable | $1,000 | |
| Operating expenses | $12,000 | |
| Prepaid expenses | $1,000 | |
| Retained earnings | $5,000 | |
| Sales revenue | $75,000 | |
| Wages payable | $2,000 | |
| Total | $92,500 | $92,500 |
