Question

BUL MUURE CUISILLE JA owing is an alphabetical list of accounts and balances for J. Saggit, proprietor $12,500 12.9A (LO 4) AP The following is an alphabetical ship, at June 30, 2021: Accounts Payable Accounts Receivable 10,250 Cash Equipment Interest Expense J. Saggit, Capital J. Saggit, Drawings 12,000 Land 64,000 8,000 18,250 Notes Payable $30,000 Prepaid Expenses de 3,000 Rent Expense 4,500 Salaries Expense 7,500 Service Revenue 63,050 Supplies Bruns 5,000 Utilities Expense o 550 500 13 Instructions sorting each account into the debit or the credit column.

Answer 1

The Normal balance of Asset accounts, Expense accounts, and the withdrawal account is a debit balance.
The Normal balance of liability accounts, revenue accounts, the capital account is a Credit balance.

.

J. Saggit, Proprietorship
Trail Balance
June 30, 2021
Account Title	Debit	Credit
Cash	$8,000
Accounts Receivable	$10,250
Supplies	$5,000
Prepaid expenses	$3,000
Equipment	$18,250
Land	$64,000
Accounts Payable		$12,500
Notes Payable		$30,000
J. Saggit, Capital		$28,000
J. Saggit, Withdrawals	$12,000
Service revenue		$63,050
Salaries expense	$7,500
Rent expense	$4,500
Utilities expense	$550
Interest expense	$500
Total	$133,550	$133,550