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18 October, 00:52

The following are the account balances for Facci Company on December 31. Assume all accounts have normal balances. If the company prepares a trial balance at this time, what will be the debit and credit totals?

Cash $11,680 Accounts Receivable 2,300 Supplies 780 Building 5,460 Land 9,700 Accounts Payable 16,500 E. Facci, Capital 6,270 E. Facci, Drawing 300 Fees Earned 14,600 Salaries Expense 5,600 Rent Expense 1,200 Utilities Expense 350

a. $74,740

b. $28,320

c. $46,420

d. $37,370

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  1. 18 October, 04:08
    0
    d. $37,370

    Explanation:

    The preparation of the trial balance is presented below:

    Facci Company

    December 31

    Trial Balance

    Particulars Debit Credit

    Fees earned $14,600

    Cash $11,680

    Accounts Payable $16,500

    E. Facci, Capital $6,270

    E. Facci, Drawing $300

    Rent expense $1,200

    Utilities expense $350

    Salaries expense $5,600

    Building $5,460

    Land $9,700

    Accounts receivable $2,300

    Supplies $780

    Total $37,370 $37,370
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