Ben Hallmark, the owner of Hallmark Surveying Services, has been in business for two years. The unadjusted trial balance at December 31, regarding the month just ended, follows.

The following additional information is available on December 31, 2020:

a. Depreciation on the equipment for the month was $430.

b. $9,600 of the balance in Unearned Surveying Revenue is unearned at December 31.

c. The balance in Prepaid Rent is for six months of rent beginning December 1.

d. Accrued wages at month-end were $12,400.

e. December?s interest in the amount of $120 had accrued on the notes payable.

f. Accrued surveying revenue at month-end totalled $21,800.

g. The balance in Prepaid Advertising covers four months of advertising beginning December 15.

h. A count of the supplies on December 31 showed $1,320 had been used.

i. The December electricity bill for $2,340 was received on December 31. It is unrecorded and unpaid.

Required

Prepare adjusting journal entries for the month ended December 31, 2020, based on the above.

Analysis Component: Explain the differences between Accumulated Depreciation and Depreciation Expense.

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Hallmark Surveying Services Unadjusted Trial Balance December 31, 2020 Credit Acct. No. Account Debit $ 15,600 101 Cash Accounts receivable 106 29,200 126 Supplies. 1,640 Prepaid advertising.. 128 1,280 131 Prepaid rent. 17,880 Surveying equipment. 58,000 167 $ 7,348 168 Accumulated depreciation, surveying equipment Accounts payable. Interest payable. Wages payable. 201 13,800 203 -0- 210 -0- Unearned surveying revenue 14,800 233 251 Notes payable. 36,000 28,652 301 Ben Hallmark, capital. 302 Ben Hallmark, withdrawals.. 24,300 Surveying revenue. 401 170,948 601 Depreciation expense, surveying equipment. -0- 622 Salaries expense 56,000 623 Wages expense 39,726 Interest expense. 633 -0- Insurance expense. 6,000 637 640 Rent expense.. -0- Supplies expense.. Advertising expense. Gas and oil expense 650 2,958 655 -0- 671 6,564 684 Repairs expense. 12,400 Utilities expense 690 -0- $271,548 $271,548 Totals.