1 Case Accounting Cycle 2 BW Travel and Tours is a travel agency that offers international and local travel packages. The company is 3 4 owned and operated by Bryson Woods. The closing balances at the end of August 2021 and the chart of accounts are shown below. 5 6 8 9 Assets 10 Cash 11 Accounts Receivable 12 Prepaid Insurance 13 Equipment 14 Accumulated Depreciation 15 BW Travel and Tours Balance Sheet As at August 31, 2021 Liabilities $14,230 Accounts Payable $11,700 $8,520 Unearned Revenue $16,200 $0 Bank Loan $25,000 $65,800 -$9,600 Total Liabilities $52,900 Woods Capital $26,050 16 Total Assets $78,950 Total Liabilities & Owners' $78,950 17 18 Account Description Account # Account Description Account # 19 ASSETS REVENUE 20 Cash 101 Service Revenue 400 21 Accounts Receivable 105 EXPENSES 22 Prepaid Insurance 110 Advertising Expense 500 23 Equipment 120 Depreciation Expense 510 24 Accumulated Depreciation 125 Insurance Expense 515 25 LIABILITIES Interest Expense 520 26 Accounts Payable 200 Salaries Expense 545 27 Interest Payable 205 Telephone Expense 550 28 Salary Payable 210 Travel Expense 555 29 Unearned Revenue 215 Rent Expense 560 Case Study Journal Ledger | Worksheet | Adjustments Statements Closing Enti