Enter the adjusting entries based on the information below and then complete the worksheet Accrued salaries on December 31 are $280 for Office employees and $500 for Sales employees Supplies on hand on Dec 31 were $1,370 Insurance policies which have not expired at the end of the year total $2,200 The end of year physical inventory count showed that there is $94,927 of inventory on hand The annual depreciation that needs to be recorded on Office Equipment is $2,180 The annual depreciation that needs to be recorded on the Building is $4,600 The company estimates that $900 of the accounts receivable balance as of Dec 31 will not be collected Unearned rent revenue that has been earned as of Dec 31 is $4,300 Interest accrued on the long term note during December is $260 Trial Balance Cash 59,005 50 Petty Cash 200 00 Accounts Receivable 39,980 95 Allow for Doubtful Accts 601 82 Notes Receivable Interest Receivable Merchandise Inventory 96,751 50 Supplies 5,623 20 Prepaid Insurance 3,700 00 Land 28,000 00 Buildings 125,000 00 Accum Deprec Buildings 46,580 00 Office Equipment 19,885 00 Accum Deprec Office Equip 7,310 00 Accounts Payable 30,313 20 Salaries Payable Sales Tax Payable 1,059 48 Interest Payable Short Term Notes Payable Unearned Rent 4,900 00 Fed Inc Tax Payable 1,490 00 FICA Tax Payable 2,503 08 United Way Contrib Pay 420 00 Fed Unemploy Tax Pay 365 92 State Unemploy Tax Pay 340 39 Long Term Note Payable 34,000 00 Jeff Jones, Capital 44,245 49 Jeff Jones, Drawing 30,000 00 Income Summary Sales 931,515 08 Sales Returns Allow 7,680 76 Sales Discounts 5,965 23 Cost of Goods Sold 449,365 25 Sales Salaries Expense 100,342 16 Advertising Expense 5,670 00 Delivery Expense 3,666 20 Bad Debt Expense Misc Selling Exp 1,359 36 Office Salaries Expense 65,463 58 Supplies Expense Insurance Expense Utilities Expense 8,352 30 Telephone Expense 1,927 00 Internet Expense 2,249 00 Payroll Tax Expense 25,873 25 Misc General Expense 14,835 00 Deprec Exp Building Deprec Exp Office Equip 380 00 Interest Revenue 812 00 Rent Revenue Gain on Plant Assets 220 00 Interest Expense 4,822 50 Loss on Plant Assets 500 00

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Enter the adjusting entries based on the information below and then complete the worksheet. Accrued salaries on December 31 are $280 for Office employees and

Enter the adjusting entries based on the information below and then complete the worksheet.

Accrued salaries on December 31 are $280 for Office employees and $500 for Sales employees.

Supplies on hand on Dec. 31 were $1,370.

Insurance policies which have not expired at the end of the year total $2,200.

The end of year physical inventory count showed that there is $94,927 of inventory on hand. The annual depreciation that needs to be recorded on Office Equipment is $2,180.

The annual depreciation that needs to be recorded on the Building is $4,600.

The company estimates that $900 of the accounts receivable balance as of Dec. 31 will not be collected.

Unearned rent revenue that has been earned as of Dec. 31 is $4,300.

Interest accrued on the long-term note during December is $260.

	Trial Balance
	Trial Balance
Cash	59,005.50
Petty Cash	200.00
Accounts Receivable	39,980.95
Allow for Doubtful Accts		601.82
Notes Receivable	-	-
Interest Receivable	-	-
Merchandise Inventory	96,751.50
Supplies	5,623.20
Prepaid Insurance	3,700.00
Land	28,000.00
Buildings	125,000.00
Accum Deprec-Buildings		46,580.00
Office Equipment	19,885.00
Accum Deprec-Office Equip		7,310.00
Accounts Payable		30,313.20
Salaries Payable	-	-
Sales Tax Payable		1,059.48
Interest Payable	-	-
Short-Term Notes Payable	-	-
Unearned Rent		4,900.00
Fed. Inc. Tax Payable		1,490.00
FICA Tax Payable		2,503.08
United Way Contrib Pay		420.00
Fed. Unemploy Tax Pay		365.92
State Unemploy Tax Pay		340.39
Long-Term Note Payable		34,000.00
Jeff Jones, Capital		44,245.49
Jeff Jones, Drawing	30,000.00
Income Summary	-	-
Sales		931,515.08
Sales Returns & Allow	7,680.76
Sales Discounts	5,965.23
Cost of Goods Sold	449,365.25
Sales Salaries Expense	100,342.16
Advertising Expense	5,670.00
Delivery Expense	3,666.20
Bad Debt Expense	-	-
Misc Selling Exp	1,359.36
Office Salaries Expense	65,463.58
Supplies Expense	-	-
Insurance Expense	-	-
Utilities Expense	8,352.30
Telephone Expense	1,927.00
Internet Expense	2,249.00
Payroll Tax Expense	25,873.25
Misc. General Expense	14,835.00
Deprec Exp - Building	-	-
Deprec Exp-Office Equip	380.00
Interest Revenue		812.00
Rent Revenue	-	-
Gain on Plant Assets		220.00
Interest Expense	4,822.50
Loss on Plant Assets	500.00