Cash	800
Accounts Receivable	700
Allowance for Doubtful Acc,		20
Inventory	500
Supplies	200
Equipment	6,600
Accum. Dep.: Equipment		2,000
Accounts Payable		600
Notes Payable		1,000
Common Stock		2,200
Retained. Earnings		1,380
Dividends	900
Sales Revenue		7,000
Cost of Goods Sold	3,200
Salaries Expense	1,000
Sales Comm. Expense	300
Totals	14,200	14,200

	INSTRUCTIONS
A	Enter the adjustments onto the worksheet and complete the worksheet.
B	Prepare the CLOSING JOURNAL ENTRIES for the period.
	ADJUSTMENT DATA
1	Pumpkin Company estimates that 6% of gross accounts receivable will be uncollectible.
2	Depreciation is calculated using the straight-line method, with a 5 year life and $300 salvage value.
3	Sales commissions are 10% of sales. Commissions on sales during the last week of December
	have not been paid as of December 31.
4	The note was issued on October 1, bearing interest at 10%, due February 1, 2021.
5	A physical inventory of supplies indicated $70 of supplies still on hand.