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What did electrelane company show as total credits

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Reference no: EM132106918

Question - Electrelane Company showed the following balances at the end of its first year:

Cash $4,000

Prepaid insurance 7,000

Accounts receivable 5,000

Accounts payable 4,000

Notes payable 6,000

Owner's Capital 2,000

Owner's Drawings 1,000

Revenues 32,000

Expenses 25,000

What did Electrelane Company show as total credits on its trial balance?

A) $9,000

B) $44,000

C) $45,000

D) $49,000

Reference no: EM132106918

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