Chapter S AP-7B (00900) Space Jam Storage offers storage space and transportation services for customers Jam Storage has already completed the transactions for the month and posted th general ledger. The adjustments for December 2016 have not yet been prepared st Dec 31 Dec 31 Dec 31 Dec 31 Provided services worth $1,500 to customer who had paid in advance. One month of insurance of $1,000 was used. Depreciation for the month was $500. Salaries accrued at the end of December amounted to $3,370. Required a) Prepare the six-column worksheet. b) Record the journal entries for the adjusting entries. Space Jam Storage Worksheet December 31, 2016 Unadjusted Trial Adjustments Adjusted Trial Balance Balance DR | CR | DR $3,250 2,750 13,000 Account Titles CR Cash Accounts Receivable Prepaid Insurance 285,000 Accumulated Depreciation$45,000 Accounts Payable Salaries Payable Unearned Revenue Bank Loan Jordan, Capital Jordan, Drawings Service Revenue Maintenance Expense Depreciation Expense Interest Expense Insurance Expense 3,600 191,680 46,200 13,500 78,000! 5,200 4,000 1,280 11,000 31,000 Salaries Expense Total $369,980 $369,980 The Accounting Cycle: Adjustments Chapter 5 JOURNAL Date Page 2 Account Titles and Explanation PR Debit Credit