Selected unadjusted account balances for Atlanta Rhythm Company on December 31 are as follows:

The following adjustment data were accumulated on December 31:
▪ Supplies on hand at December 31, $1,100.
▪ Insurance premiums expired during the year, $10,000.
▪ Unearned fees on December 31, $15,600.
Journalize the adjusting entries necessary on December 31.

Transcribed Image Text:

Supplies Prepaid Insurance Unearned Fees Debit Balances $ 2,700 12,000 Credit Balances $44,900