accounts:

• No journal entry required
• Accounts payable
• Cash
• Cost of goods sold
• Insurance expense
• Marketable securities
• Professional fees expense
• Sales
• Unexpired insurance

Nancy Howe, your staff assistant on the April 30, 20X2, audit of Wilcox Company, was transferred to another audit engagement before she could complete the audit of unrecorded accounts payable. Her working paper, which you have reviewed and are satisfied is complete, appears below. M-1-1 Invoice Date Wilcox Company Unrecorded Accounts Payable April 30, 20X2 Vendor and Description Hill & Harper-unpaid legal fees at Apr. 30, X2 (see lawyer's letter at M-4) Amount $ 1,000 1,800 2,125y Apr.1,x2 Drew Insurance Agency-unpaid premium at year-end on fire insurance for period Apr. 1, X2- Mar. 31, X3 (see insurance broker letter at J- 1-1). Payment made on May 7, 20x2. Apr.30,X2 Mays and Sage, Stockbrokers-advice for 100 shares of Madison Ltd. common stock (settlement date May 7, X2) Lane Company-shipment received Apr. 30, X2 per receiver no. 3361 and included in Apr. 30, X2, physical inventory; invoice not yet received (amount is per purchase order) y-Examined document described. In my opinion, the $10,788 adjustment includes all material unrecorded accounts payable. 5,863y 10,788 $ N.A.H. May 29, X2 Prepare a proposed adjusting journal entry for the unrecorded accounts payable of Wilcox Company at April 30, 20X2. The amounts are material. (Do not deal with income taxes.) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate computations.) Journal entry worksheet Record the adjusting journal entry for the unrecorded accounts payable of Wilcox Company at April 30, 20X2. Note: Enter debits before credits. General Journal Debit Credit Date April 30, 20X2 Record entry Clear entry View general journal