Ch 3: Homework (522) Question 16 of 17 TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $35,500 Accounts Receivable 51.200 Allowance for Doubtful Accounts $2.500 Supplies 2,800 Prepaid Insurance 1,200 Equipment 28.000 Accumulated Depreciation-Equipment 6.750 Notes Payable 9,500 Owner's Capital 45,370 Service Revenue 99.010 Rent Expense 11.700 Salaries and Wages Expense 30,750 Utilities Expenses 1.320 Office Expense 760 $163,230 $163,230 1. Fees received in advance from clients $5.500, which were recorded as revenue. 2. Services performed for dients that were not recorded by December 31, $5,400. 3. Equipment is being depreciated at 8% per year. 4. Bad debt expense for the year is $1.500. 5. Insurance expired during the year $560. 6. Bramble gave the bank a 90-day, 5% nate for $9,600 an December 1, 2020. 7. Rent of the building is $900 per month. The rent for 2020 has been paid, as has that for January 2021. 8. Office salaries and wages earned but unpaid December 31, 2020, $1,340. Bramble withdrew $12,000 cash for personal use during the year. 0.75/1 E