Question
Based on the Unadjusted Trial Balance below, which accounts might need adjusting entries at the end of the accounting period to prepare to build the
Based on the Unadjusted Trial Balance below, which accounts might need adjusting entries at the end of the accounting period to prepare to build the financial statements (Select ALL that apply). Unadjusted Trial Balance As of 12/31/20xx Accounts Debit Credit
Cash $6,500
Accounts Receivable 10,000
Inventory 25000
Prepaid Insurance 12,000
Supplies 4,500
Building 65,000
Accounts Payable $1,600
Deferred Revenue 3,200
Notes Payable 80,000
Common Stock 2,400
Retained Earnings 31,800
Dividends 2,000
Service Revenue 9,200
Rent Expense 1,900
Supplies Expense 300
Utility Expense 1,000
Totals $128,200 $128,200
Group of answer choices
Common Stock Cash
Prepaid Insurance
Supplies
Retained Earnings
Dividends
Accounts Payable
Deferred Revenue
Accounts Receivable
Inventory
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