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The following transactions occurred during the month of January for XYZ Company:
- Received $10,000 in cash as investment from the owner.
- Purchased inventory on credit for $5,000.
- Sold inventory for $8,000 in cash.
- Paid $1,000 in rent expense.
- Collected $3,000 from accounts receivable.
- Paid $2,000 to suppliers for accounts payable.
- Recorded $500 in depreciation expense.
- Issued a note payable for $7,000.
- Paid $2,500 in salary expense.
- Received $1,200 in interest revenue.
Prepare the trial balance for XYZ Company as of January 31, 2023
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