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Candies Co. has the following balances in selected accounts on December 31, 2019. Cash Accounts Receivable Accumulated Depreciation - Equipment Equipment Interest Payable Notes Payable
Candies Co. has the following balances in selected accounts on December 31, 2019. Cash Accounts Receivable Accumulated Depreciation - Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries Payable Supplies Unearned Revenues 39/400 6,650 0 45.000 30.000 4,950 36,000 All of the accounts have normal balances. The information below has been gathered at December 31, 2019. 1. Depreciation on the equipment for 2019 is 1,250. 2. Candies borrowed 45,000 by signing a 20%, one-year note on June 1, 2019. 3. Candies paid 30.000 for 12 months of insurance coverage on July 1, 2019. 4. Candies pays its employees total salaries of 10,000 every Monday for the preceding 5-day week (Monday-Friday). On Monday, December 29, 2019, employees were paid for the week ending December 26, 2019. All employees worked the five days between Dec.29 Jan,2 2019. 5. Candies performed services for a client in December 2019. The client will be billed 15,000. 6. A count of supplies on December 31, 2019, indicates that supplies of 1.950 are on hand. Prepare the adjusting entries to the journal for the six items listed for Candies and then prepare Adjusted Trial Balance
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