Question - Electrelane Company showed the following balances at the end of its first year:
Cash $4,000
Prepaid insurance 7,000
Accounts receivable 5,000
Accounts payable 4,000
Notes payable 6,000
Owner's Capital 2,000
Owner's Drawings 1,000
Revenues 32,000
Expenses 25,000
What did Electrelane Company show as total credits on its trial balance?
A) $9,000
B) $44,000
C) $45,000
D) $49,000