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Following is the trial balance of Flynn Corporation on December 31: Flynn Corporation Trial Balance December 31, 2020 Accounts Dr Cr Cash 15,300 Accounts Receivable
Following is the trial balance of Flynn Corporation on December 31: Flynn Corporation Trial Balance December 31, 2020 Accounts Dr Cr Cash 15,300 Accounts Receivable 6,100 Supplies 1,350 Prepaid Insurance 2,100 Equipment 25,000 Accumulated Depreciation-Equipment 9,000 Accounts Payable Notes Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Declared Service Revenue Salaries Expense 8.100 11,000 1,600 22,000 3,800 14,000 88,450 56,700 Advertising Expense Utilities Expense 14,300 9,100 Totals 143,950 143,950 The additional following information is available on December 31: 1. Accrued salaries on December 31 are $4,200. 2. Supplies costing $250 remain on hand on December 31. 3. Accrued interest on the note payable on December 31 is $990. 4. Depreciation on the equipment is $3,000 per year. 5. Services performed but unrecorded on December 31, are $3,300. 6. On February 1, 2020, Flynn had purchased a 1-year insurance policy costing $2.100. The effective date of the policy was February 1, 2020. 7. On October 1, 2020, Flynn had received a $1,600 cash advance from a customer for 4 months of services that Flynn began performing on October 1, 2020. Required Prepare the required adjusting journal entries in the attached general journal file, assuming that Flynn prepares adjusting entries annually (once each year) on December 31. Save your file and then upload your saved file here. Exam 1 Workpaper-Question 4 Journal.xlsx Exam 1 Workpaper-Question 4 Journal.pdf Upload Choose a File
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