The accounts in the ledger of Ivanhoe Delivery Service contain the following balances on July 31, 2022. Accounts Receivable $15,000
Prepaid Insurance $ 3,400
Accounts Payable 10,000
Service Revenue 17,300
Cash ?
Dividends 880
Equipment 59,550
Common Stock 40,190
Maintenance and Repairs Expense 3,758
Salaries and Wages Expense 8,628
Insurance Expense 720
Salaries and Wages Payable 990
Notes Payable (due 2025) 29,650
Retained Earnings (July 1, 2022) 6,400
Prepare trial balance

Ivanhoe Delivery Service

Trial Balance

For the month ended July 31, 2022

                                                                    debit            credit

Cash                                                          $12,594

Accounts Receivable                               $15,000

Prepaid Insurance                                     $3,400

Equipment                                               $59,550

Accounts Payable                                                          $10,000

Salaries and Wages Payable                                            $990

Notes Payable (due 2025)                                           $29,650

Common Stock                                                              $40,190

Retained Earnings (July 1, 2022)                                   $6,400

Service Revenue                                                           $17,300

Maintenance and Repairs Expense          $3,758

Salaries and Wages Expense                   $8,628

Insurance Expense                                       $720

Dividends                                                      $880                            

Totals                                                       $104,530       $104,530

Explanation:

cash = ($40,190 + $6,400 + $29,650 + $990 + $17,300 + $10,000) - ($15,000 + $3,400 + $880 + $59,550 + $3,758 + $8,628 + $720) = $104,530 - $91,936 = $12,594

borrow money from the government then pay the government back 5k

answer; (10%) commission;