Cash Accounts receivable Note receivable Interest receivable Supplies Prepaid insurance Furniture Accumulated depreciation-furniture Accounts payable Salaries payable Unearned revenue K. Smeltz, capital K. Smeltz, withdrawals Consulting revenue Interest revenue Salaries expense Rent expense Insurance expense Utilities expense Depreciation expense Supplies expense Denmark Consulting Unadjusted Trial Balance December 31, 2021 Year-End Debit Credit 24,200 38,500 15,419 72,000 $ 13,800 18,400 77,159 46,000 166,125 385 32,000 33,000 3,450 2,300 6,600 2,400 $ 275,869 $ 275,869 This company uses the alternate method for adjusting entries and adjusts its accounts annually 1 The company has completed consulting services as of December 31, 2021 that was not billed until January 4, 2022. The customer paid the invoice on January 8, 2022. The amount of services completed as of Dec 31st: 2 The insurance account represents a one-year insurance policy. The policy was purchased on April 1, 2021. 3 Supplies on hand as of December 31, 2021 was: 4,102 615 4 The furniture has an estimate useful life of 10 years. Once fully depreciated, it will have no value at the end of the 10 years. Straight-line depreciation is used. Depreciation is recorded on a monthly basis on the last day of each month. 5 Salaries are paid every two weeks worked. The work week is Monday to Friday. December 31, 2021 ended on Friday, and the workers were last paid on Monday December 27th for the last two weeks prior. Salaries were paid on January 10, 2022 in the amount of: 3,280 6 On May 1, 2021 the company sold their equipment to a customer, and in exchange, the company agreed to receive the 18- month note receivable shown on the Trial Balance. The customer pays interest every three months, on the first day of a month, for the past three months (ie, payments were made on Aug 1st for May, June, July, and then again on Nov 1st). The next interest payment will be on February 1, 2022. The annual interest rate on the note is: 5% Ref Date 1 2 3 4 5 6 7 8 8 The company received the utility bill for the month of December 2021 on January 11, 2022. This utility bill was paid on February 8, 2022. December's Utility bill amount 205.00 General Journal Account Dr Cr