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The Following Accounts Are on the Balance Sheet Section of Appleton

Question 74

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The following accounts are on the Balance Sheet section of Appleton Company worksheet for the month ended July 31, 2019. Required: Prepare a classified  BALANCE SHEET  ACCOUNT  Debit  Credit  Cash 3 Accounts Receivable 5 Merchandise Inventory 7 Store Equipment 15 Accum. Dep., Store Equip. 3 Accounts Payable 7 Mortgage Payable 12 Appleton, Capital 4\begin{array}{l}\text { BALANCE SHEET }\\\begin{array} { l r r } \text { ACCOUNT } & \text { Debit } & \text { Credit } \\\hline \text { Cash } & 3 & \\\text { Accounts Receivable } & 5 & \\\text { Merchandise Inventory } & 7 & \\\text { Store Equipment } & 15 & \\\text { Accum. Dep., Store Equip. } & & 3 \\\text { Accounts Payable } & & 7 \\\text { Mortgage Payable } & & 12 \\\text { Appleton, Capital } & & 4 \\\hline\end{array}\end{array} Additional information Withdrawals for the period are $2, and Net Income is $6.

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