The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS)...

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Accounting

The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1.
Debit Credit
Cash $6,590
Accounts receivable 17,570
Allowance for doubtful accounts $1,885
Inventory 25,800
Accounts payable 9,045
Common stock 21,700
Retained earnings 17,330
Totals $49,960 $49,960

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