The following list of accounts was taken from the general ledger of Bassett Corporation on December 31,2017.The bookkeeper thought it would be helpful if the accounts were arranged in alphabetical order.Each account contains the balance that is normal for that type of account;for example,Cash normally has a debit balance.Prepare a trial balance as of this date with the accounts arranged in the following order: (1)assets, (2)liabilities, (3)stockholders' equity, (4)revenues, (5)expenses,and (6)dividends.

\begin{array}{lr}\text { Accounts Payable } & \$ 8,650 \\\text { Accounts Receivable } & 5,325 \\\text { Automobiles } & 9,200 \\\text { Buildings } & 150,000 \\\text { Capital Stock } & 100,000 \\\text { Cash } & 11,500 \\\text { Commissions Expense } & 2,600 \\\text { Commissions Revenue } & 12,750 \\\text { Dividends } & 2,000 \\\text { Equipment } & 85,000\\\text { Heat, Light, and Water Expense } & 1,400 \\\text { Income Tax Expense } & 1,700 \\\text { Income Taxes Payable } & 2,500 \\\text { Interest Revenue } & 1,300 \\\text { Land } & 50,000 \\\text { Notes Payable } & 90,000 \\\text { Office Sal aries Expense } & 6,000 \\\text { Office Supplies } & 500 \\\text { Retained Earnings } & 110,025\end{array}

Which One of the Following Statements Is True

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