USA Car Rental Service was organized to provide car rental service at the airport. It has just completed its second year of business. Its trial balance follows.
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The following information is also available:
a. To obtain space at the airport, USA paid two years’ rent in advance when
it began the business.
b. An examination of insurance policies reveals that $2,000 expired during the year.
c. To provide regular maintenance for the vehicles, USA deposited $13,620 with a local garage. An examination of maintenance invoices reveals charges of $7,890 against the deposit.
d. An inventory of spare parts shows $2,170 on hand.