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create adjusted trial balance and adjusting entries ACCOUK3:L25NTING SERVICES: June 1, 2021: John invested $20,000 into his business. June 2: Received $5,000 from customers for
create adjusted trial balance and adjusting entries
ACCOUK3:L25NTING SERVICES: June 1, 2021: John invested $20,000 into his business. June 2: Received $5,000 from customers for services provided. June 3: Provided services to customers receiving $6,500. June 4: Purchased furniture with cash, 250 June 5: Paid rent expense, $550. June 7: Purchase supplies on account, $1,200. June 7: Provided services to customers on account, $8,000. June 8: Telephone bill amounting to $500 was received and will be paid later. June 10: Paid salaries, $2,500. June 12: Purchased land on account $2,800. June 12: Paid $1,800 to creditors on account. June 15: Received $13,000 from a client for accounting services to be provided in the future. June 18: Paid $1,200 in miscellaneous expense. June 20: Received $4,500 from clients for services provided. June 20: Paid salaries $2,500. June 25: Paid telephone bill received earlier in the month, $500. June 28: Received additional utility bills which are to be paid in the following month. June 30: John withdrew $5,000 from the business for personal use. Adjustments Needed at the end of the Year: A. Fees earned but unbilled, $4,200. B. Depreciation on furniture $30. C. $3,000 of unearned fees has been earned. D. Supplies used during the period was $800. E. Salaries owed, $1,300Step by Step Solution
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