The following six-column table for Hawkeye Ranges includes the unadjusted trial balance as of December 31, 2008.

Question:

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1. Complete the six-column table by entering adjusting entries that reflect the following information.

a. As of December 31, 2008, employees had earned $$1,200$ of unpaid and unrecorded salaries. The next payday is January 4, at which time $$1,500$ of salaries will be paid.

b. The cost of supplies still available at December 31, 2008, is $$3,000.$

c. The notes payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31, 2008, is $$1,875$. The next interest payment, at an amount of $$2,250$, is due on January 15, 2009.

d. Analysis of the unearned member fees account shows $$5,800$ remaining unearned at December 312008,

e. In addition to the member fees included in the revenue account balance, the company has earned another $$9,300$ in unrecorded fees that will be collected on January 31, 2009. The company is also expected to collect $$10,000$ on that same day for new fees earned in January 2009.

f. Depreciation expense for the year is $$15,000.$

2. Prepare an adjusted trial balance as of December 31, 2008.
3. Prepare reversing journal entries to reverse the effects of the December 31, 2008, adjusting entries that involve accruals.
4. Prepare journal entries to record the cash payments and cash collections described for January. Assume reversing entries were made.

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