The December 31, 2018, adjusted trial balance for the Blueboy Cheese Corporation is presented below.

The December 31, 2018, adjusted trial balance for the Blueboy Cheese Corporation is presented below.

Account TitleDebits CreditsCash21,000  Accounts receivable300,000  Prepaid rent10,000  Inventory50,000  Office equipment600,000  Accumulated depreciation—office equipment  250,000Accounts payable  60,000Note payable (due in six months)  60,000Salaries payable  8,000Interest payable  2,000Common stock  400,000Retained earnings  100,000Sales revenue  800,000Cost of goods sold480,000  Salaries expense120,000  Rent expense30,000  Depreciation expense60,000  Interest expense4,000  Advertising expense5,000  Totals1,680,000 1,680,000

income statement for the year ended December 31, 2018.

classified balance sheet as of December 31, 2018.

necessary closing entries at December 31, 2018.

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