construct T-accounts

adjusting entries

post adjusting journal entries to the t-accounts, closiing entries, post closung entries

Presented below is the December 31 trial balance of Sunland Boutique. SUNLAND BOUTIQUE TRIAL BALANCE DECEMBER 31 Debit Credit Cash $20,100 Accounts Receivable 39,800 Allowance for Doubtful Accounts $717 Inventory, December 31 80,410 Prepaid Insurance 5,350 Equipment 91,000 Accumulated Depreciation-Equipment 35,600 Notes Payable 27,530 Common Stock 74,607 Retained Earnings 10,990 Sales Revenue 705,086 Cost of Goods Sold 476,900 Salaries and Wages Expense (sales) 61,200 Advertising Expense 6,790 Salaries and Wages Expense (administrative) 67,600 Supplies Expense 5,380 $854,530 $854,530 Prepare adjusting journal entries for the following. (Credit account titles are automa entered. Do not indent manually. If no entry is required, select "No entry" for the accou 1. Bad debt expense is estimated to be $1,424. 2. Equipment is depreciated based on a 7-year life (no salvage value). 3. Insurance expired during the year $2,756. 4. Interest accrued on notes payable $3,126. 5. Sales salaries and wages earned but not paid $2,226. 6. Advertising paid in advance $717. 7. Office supplies on hand $1,630, charged to Supplies Expense when purchased