adjusted trial balances for garboz company, an industrial recycler, at december 31 of the current and prior year follow. debits, december 31 current year prior year cash $56,000 $51,200 accounts receivable 52,800 48,000 inventory 49,600 75,200 property, plant, and equipment 160,000 152,000 discount on bonds payable 7,200 8,000 cost of goods sold 400,000 608,000 selling expenses 226,400 275,200 general and administrative expenses 219,200 242,080 interest expense 6,880 4,160 income tax expense 32,640 97,920 total debits $1,210,720 $1,561,760