The following selected accounts appear in the Bullard Company's unadjusted trial balance as of December 31, the end of the fiscal year (all accounts have normal balances):

Required 

Prepare the necessary adjusting entries in the general journal as of December 31 , assuming the following:

1. Prepaid advertising at December 31 is \(\$ 950\).

2. Unpaid wages earned by employees in December are \(\$ 1,800\).

3. Prepaid insurance at December 31 is \(\$ 2,750\).

4. Unearned service fees at December 31 are \(\$ 2,800\).

5. Rent revenue of \(\$ 1,250\) owed by a tenant is not recorded at December 31 .

Transcribed Image Text:

Prepaid advertising. Wages expense Prepaid insurance. $ 1,400 Unearned service fees 5,400 43,800 Service fees earned 87,000 3,420 Rental income... 4,900