The following accounts and account balances are available for Badger Auto Parts at December 31, 2019:
Accounts Payable $8,500 Income Taxes Payable $3,600
Accounts Receivable 40,800 Interest Expense 6,650
Accumulated Depreciation (Furniture) 47,300 Interest Payable 1,800
Advertising Expense 29,200 Inventory 60,500
Cash 3,200 Notes Payable (Long
-Term) 50,000
Common Stock 100,000 Prepaid Rent 15,250
Cost of Goods Sold 184,300 Retained Earnings,
12/31/2018 15,900
Depreciation Expense (Furniture) 10,400 Sales revenue 264,700
Furniture 128,000 Utilities expense 9,700
Income Taxes Expense 3,800
Required:
Prepare a trial balance. Assume that all accounts have normal balances.

In this question, we are asked to prepare a trial balance assuming that all accounts have normal balances. And the purpose of making a trial balance is to make sure that the entries in the system are mathematically sound.

So,

Badger Auto Parts Debit Credit

Accounts payable $8,500

Accounts receivable $40,800

Accumulated depreciation (furniture) $47,300

Advertising expense $29,200

Cash $3,200

Common stock $100,000

Cost of goods sold $184,300

Depreciation expense (furniture) $10,400

Furniture $128,000

Income tax expense $3,800

Income tax payable $3,600

Interest expense $6,650

Interest payable $1,800

Inventory $60,500

Notes payable $50,000

Prepaid rent $15,250

Retained earnings $15,900

Sales revenue $264,700

Utilities expense $9,700

Totals $491,800 $491,800