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The following general ledger accounts are included in the trial balance for an audit client Jones Wholesale Stationery Store Accounts payable Insurance expense Accounts receivable Interest expense

The following general ledger accounts are included in the trial balance for an audit client, Jones Wholesale Stationery Store. Accounts payable Insurance expense Accounts receivable Interest expense Accrued interest expense Inventory Accrued sales salaries Loans payable Accumulated depreciation— Notes payable furniture and equipment Notes receivable—trade Advertising expense Prepaid insurance Allowance for doubtful accounts Property tax expense Bad debt expense Property tax payable Cash Purchases Common stock Rent expense Depreciation expense—furniture Retained earnings and equipment Salaries, office and general Furniture and equipment Sales Income tax expense Sales salaries expense Income tax payable Telecommunications expense Required a. Identify the accounts in the trial balance that are likely to be included in each transaction cycle. Some accounts will be included in more than one cycle. Use the format that follows.  b. How will the general ledger accounts in the trial balance most likely differ if the company were a retail store rather than a wholesale company? How will they differ for a hospital or a governmentunit?

Apr 11 2020 View more View Less

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