Bergo Bay's accounting system generated the following account balances on December 31. The companys manager...
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Accounting
Bergo Bay's accounting system generated the following account balances on December 31. The companys manager knows something is wrong with this list of balances because it does not show any balance for Work in Process Inventory, and the accrued factory payroll (Factory Wages Payable) has not been recorded. Debit Credit Cash $ 79,000 Accounts receivable 48,000 Raw materials inventory 29,000 Work in process inventory 0 Finished goods inventory 9,000 Prepaid rent 3,000 Accounts payable $ 8,800 Notes payable 11,800 Common stock 30,000 Retained earnings (prior year) 94,000 Sales 203,400 Cost of goods sold 102,000 Factory overhead 26,000 General and administrative expenses 52,000 Totals $ 348,000 $ 348,000 These six documents must be
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