Adjusting Entries and Adjusted Trial Balances Reece Financial Services Co., which specializes in appliance repair services, is owned and operated by Joni Reece Reece Financial Services' accounting clerk prepared the following unadjusted trial balance at July 31, 20Y9: Reece Financial Services Co. Unadjusted Trial Balance July 31, 2019 Debit Credit Balances Balances Cash 5,290 Accounts Receivable 48,010 Prepaid Insurance 8,950 Supplies 2,440 Land 141 Building 254,730 Accumulated Depreciation Building 172,500 Equipment 169,650 Accumulated Depreciation Equipment 122,870 15,050 Accounts Payable Unearned Rent 8,540 Common Stock 80,000 Retained Earnings 196,700 Dividends 18,710 406,840 Fees Earned 20 Dividends 18,710 Fees Earned 406,840 Salaries and Wages Expense 242.480 Utilities Expense 53,300 Advertising Expense 28,480 Repairs Expense 21,560 Miscellaneous Expense 7,730 1,002,500 1,002,500 The data needed to determine year-end adjustments are as follows: Depreciation of building for the year, $3,970. Depreciation of equipment for the year, $3,440. Accrued salaries and wages at July 31, $3,880. Unexpired insurance at July 31, $6,000. Fees earned but unbilled on July 31, $22,780. Supplies on hand at July 31, $730. Rent unearned at July 31, $2,220. Required: 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue Insurance Expense; Depreciation Experise Bullding: Depreciation Expense-Equipment; and Supplies Expense. If an amount box does not require an entry, leave it blank July 31 31 31 > II II II II 31 31 > > II 31 31 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank Reece Financial Services Co. Adjusted Trial Balance July 31, 2019 Debit Balances Credit Balances