The adjusted trial balance for Martell Bowling Alley at December 31, 2014, contains the following accounts.
Debits
Credits
Buildings
$128,800
Owner’s Capital
$115,000
Accounts Receivable
14,520
Accumulated Depreciation—Buildings
42,600
Prepaid Insurance
4,680
Accounts Payable
12,300
Cash
18,040
Notes Payable
97,780
Equipment
62,400
Accumulated Depreciation—Equipment
18,720
Land
67,000
Interest Payable
2,600
Insurance Expense
780
Service Revenue
17,180
Depreciation Expense
7,360
Interest Expense
2,600
$306,180
$306,180
(b)Comment on the liquidity of the company.
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