The adjusted trial balance for Rego Bowling Alley at December 31, 2014, contains the following accounts.
| Debits |
Credits |
| Buildings |
$128,000 |
Common Stock |
$80,000 |
| Accounts Receivable |
7,540 |
Retained Earnings |
28,000 |
| Prepaid Insurance |
4,680 |
Accumulated Depreciation-Buildings |
42,600 |
| Cash |
18,040 |
Accounts Payable |
12,300 |
| Equipment |
62,400 |
Notes Payable |
95,000 |
| Land |
67,000 |
Accumulated Depreciation-Equipment |
18,720 |
| Insurance Expense |
780 |
Interest Payable |
2,600 |
| Depreciation Expense |
7,360 |
Service Revenue |
19,180 |
| Interest Expense |
2,600 |
|
|
| |
$298,400 |
|
$298,400 |
Prepare a classified balance sheet; assume that $15,000 of the note payable will be paid in 2015.