Accounts payable Land Cash Salaries payable S. Andrea, Capital Machinery Prepaid insurance $ 11,600 Accounts receivable 36,000 Accumulated depreciation-Machinery 14,800 Notes payable (due in 7 years) 1,600 Long-term investments in bonds 51,600 Notes receivable (due in 4 years) 24,800 Merchandise inventory 4,400 $ 4,600 18,400 33,800 8, 200 18,600 5,600 ANDREA CO. Balance Sheet December 31 Assets Total assets Liabilities Total liabilities Equity Total liabilities and equity