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Sandi Alcon, the bookkeeper for New York Company, has been trying to determine the correct...

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Accounting

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Sandi Alcon, the bookkeeper for New York Company, has been trying to determine the correct balance sheet for the company. NEW YORK COMPANY Balance Sheet For the Month Ended December 31, 2017 Assets Liabilities Equipment $25,500 Owner's capital $26,000 Cash 9,000 Accounts receivable (6,000) Supplies 2,000 Owner's drawings (2,000) Accounts payable (8,000) Notes payable 10,500 $28,500 $28,500 Explain to Sandi Alcon in a memo why the original balance sheet is incorrect

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