The following is a random list showing the account balances of various assets, liabilities, revenues...
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Accounting
The following is a random list showing the account balances of various assets, liabilities, revenues and expenses for Jones Painting Company at December 31, 2020, the end of its first year of operations.
Accounts receivable 7,100
Acounts payable 2,500
salary expense 3,200
repair expense 700
truck 8,300
equipment 6,700
unearned revenue 3,000
cash 6,100
supplies expense 1,600
service revenue 15,800
Gasoline Expense 3,000
Salary payable 2,100
4. Total Liabilities at December 31, 2019 were
A. 6,600
B. 5,500
C. 8,000
D. 7,600
E. 5,100
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