Question

		debit	credit
100	Cash	54,339
110	Investment Securities--AFS	72,000
115	ACCRUED INTEREST RECEIVABLE	1000
130	Accounts Receivable	48,607
131	Allowance for Doubtful Accounts		3,022
132	Allowance for Sales Returns and Allowances		972
140	Merchandise Inventory	449,807
150	Prepaid Insurance	7,434
160	Store Supplies	2,700
170	Land	285,820
180	Building	476,895
181	Accumulated Depreciation: Building		55,027
182	Office & Store Equipment	163,941
183	Accumulated Depreciation: Office & Store Equipment		54,763
184	Delivery Trucks	198,545
185	Accumulated Depreciation: Delivery Trucks		41,260
200	Accounts Payable		51,274
210	FICA Taxes Payable		5,406
220	FEDERAL INCOME TAX WITHHOLDING PAYABLE		3,401
230	Unemployment Taxes Payable		814
240	Union Dues Payable		180
250	Salaries & Wages Payable		37,085
260	accured utility payable		506
280	Mortgage Payable		200,000
281	Accrued Interest Payable		667
300	Common Stock		100,000
301	PIC in Excess of Par		1,000,000
350	Retained Earnings		85,937
400	Sales		1,779,369
401	Sales Returns	36,893
402	Sales Discounts	12,027
490	INTEREST REVENUE		1,000
500	Purchases		0
501	Purchase Returns		0
502	Purchase Discounts		0
520	Freight In		0
550	cost of goods sold	1,157,524
600	Salaries & Wages Expense	304,693	0
605	Payroll Tax Expense	41,573	0
610	Advertising Expense	11,874	0
620	REPAIR EXPENSE	1,700	0
630	STORE SUPPLIES EXPENSE	10,021	0
640	Utilities Expense	20,410	0
650	INSURANCE EXPENSE	6,034	0
660	DEPRECIATION EXPENSE	46,459	0
670	DOUBTFUL ACCOUNTS EXPENSE	928	0
800	Interest Expense	9,459	0
	Totals	3,420,683	3,420,683

Prepare a balance sheet as of December 31, 2016.(Remember that part of the mortgage payable should be classified asa current liability and the remainder as a long termliability.)