Adjusting entries OBJ. 2, 3, 4 Good Note Company specializes in the repair of music equipment and is owned and operated by Robin Stahl. On November 30, 2016, the end of the current year, the accountant for Good Note Company prepared the following trial balances:

Good Note Company Trial Balances November 30, 2016 Unadjusted Adjusted Debit Balances Credit Balances Debit Balances Credit Balances Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38,250 38,250 Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89,500 89,500 Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,250 2,400 Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,250 3,850 Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 290,450 290,450 Accumulated Depreciation—Equipment . . . . . . . . . . . . . . . 94,500 106,100 Automobiles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129,500 129,500 Accumulated Depreciation—Automobiles . . . . . . . . . . . . . 54,750 62,050 Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,930 26,130 Salaries Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 8,100 Unearned Service Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,000 9,000 Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000 100,000 Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224,020 224,020 Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75,000 75,000 Service Fees Earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 733,800 742,800 Salary Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 516,900 525,000 Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54,000 54,000 Supplies Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 8,850 Depreciation Expense—Equipment . . . . . . . . . . . . . . . . . . . — 11,600 Depreciation Expense—Automobiles . . . . . . . . . . . . . . . . . — 7,300 Utilities Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,900 14,100 Taxes Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,175 8,175 Insurance Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 10,400 Miscellaneous Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,825 9,825 1,250,000 1,250,000 1,278,200 1,278,200 Instructions Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry