Get Great Guitars Beginning Balance Sheet As of December 31, 2019 Total ASSETS Current Assets Bank Accounts Checking 4647 Total Bank Accounts 25,000 $ 25,000 Accounts Receivable Accounts Receivable (A/R) Total Accounts Receivable 20,500 $ 20,500 Other Current Assets Inventory Asset Total Other Current Assets Total Current Assets 2,896 $ 2,896 $ 48,396 Fixed Assets Machinery & Equipment Original cost Total Machinery & Equipment Total Fixed Assets TOTAL ASSETS 75,000 $ 75,000 $ 75,000 $ 123,396 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable (A/P) Total Accounts Payable 15,000 $ 15,000 Credit Cards Credit Card 2244 Total Credit Cards Total Current Liabilities 1,000 $ 1,000 $ 16,000 Long-Term Liabilities Notes Payable 5795 Total Long-Term Liabilities Total Liabilities 22,000 $ 22,000 $ 38,000 Equity Capital 85,396 Opening Balance Equity 0 Net Income Total Equity TOTAL LIABILITIES AND EQUITY $ 85,396 $ 123,396 Get Great Guitars Beginning Trial Balance As of December 31, 2019 Debit Checking 4647 25,000 Accounts Receivable (A/R) 20,500 Inventory Asset Credit 2,896 Machinery & Equipment:Original cost 75,000 Accounts Payable (A/P) 15,000 Credit Card 2244 1,000 Notes Payable 5795 22,000 Capital 85,396 Opening Balance Equity TOTAL 0 $ 123,396 $ 123,396