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David's Services provides general home maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018, trial balance (before any adjusting entries)
David's Services provides general home maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018, trial balance (before any adjusting entries) appears below. Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the equipment for the year is $13, 600. Employees' salaries are paid every two weeks. The last pay period ended on December 23. Salaries earned from December 24 through December 31, 2018, are $4, 200. On August 1, 2018, David's borrows $40,000 from a local bank and signs a note. The note requires interest to be paid annually on August 31 at 12%. The principal is due in four years. On April 1, 2018, the company purchases insurance for $15,000 for a one-year policy to cover
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