Rita King, your staff assistant on the April 30, 20X2, audit of Maxwell Company, was transferred to another assignment before she could prepare a proposed adjusting journal entry for Maxwell’s Miscellaneous Revenue account, which she had analyzed per the working paper given below. You have reviewed the working paper and are satisfied with King’s procedures. You are convinced that all the miscellaneous revenue items should be transferred to other accounts. Maxwell Company’s state of incorporation has an Unclaimed Properties Law. Draft a proposed adjusting journal entry at April 30, 20X2, for Maxwell Company’s Miscellaneous Revenue account.

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Acct. No. 430 Date May 8, 20X1, through April 7, 20X2 July 18, 20X1 Sept 22, 20X1 Feb. 6, 20X2 April 28, 20X2 April 30, 20X2 Maxwell Company Miscellaneous Revenue Year Ended April 30, 20X2 Description Proceeds of sale of scrap from manufacturing process (total of 12 monthly sales) Write-off of old outstanding checks; nos. 118-$500; 214-$400, 407-$200 Recovery of previously written off account receivable from Wilson Company Cash proceeds from sale of machine. Cost of $10,000 and accumulated depreciation of $8,000 as of Feb. 6, X2, not removed from accounts Refund of premium overcharge on fire insurance policy no. 1856, for period April 1, 20X2-Mar. 31, 20X3 Balance per ledger Y-Traced to cash receipts journal or general journal; vouched to appropriate supporting documents. C.M. May 19, X2 Reference Various CR GJ 7-4 CR 9-1 CR 2-1 CR 4-1 Q-2 Amount $5,843 Y 1,100 Y 4,381 Y 3,500 Y 600 Y $15,424 R.A.K. May 18, X2