Fox Enterprises is owned by Edmund Fox and has a January 31 fiscal year end. The company prepares adjusting entries on an annual basis. The following trial balance was prepared before adjustments: FOX ENTERPRISES Trial Balance January 31, 2021 Debit Credit Cash $5,020 Accounts Receivable 14,510 Prepaid Insurance 4,560 Supplies 6,560 Equipment 31,300 Accumulated Depreciation-Equipment $12,520 Accounts Payable 7,790 Notes Payable 11,600 Unearned Revenue 7,270 E. Fox, Capital 18,250 E. Fox, Drawings 119,800 Service Revenue 215,160 Rent Expense 20,660 Salaries Expense 67,080 Telephone Expense 3,100 $272,590 $272,590 Additional information: 1. A one-year insurance policy was purchased on July 1, 2020. 2. A count of supplies on January 31, 2021, shows $950 of supplies on hand. 3. The equipment has an estimated useful life of five years. 4. An analysis of the Unearned Revenue account shows that $5,240 of the services had been provided by January 31, 2021. 5. The eight-month, 6% note was issued on November 1, 2020. Interest and principal are due on the maturity date. 6. Salaries accrued to January 31, 2021, were $1,350. 7. On January 31, 2021, the company had provided services but not billed or recorded service revenue of $2,685. 8. The telephone bill for January 2021 was $150. It has not been recorded or paid. (Use the Accounts Payable account.) Prepare T accounts and enter the unadjusted trial balance amounts. (Post entries in the order displayed in the problem statement.) Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Notes Payable Unearned Revenue E. Fox, Capital E. Fox, Drawings Service Revenue Salaries Expense Rent Expense Telephone Expense Prepare the annual adjusting journal entries on January 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.) No. Date Account Titles and Explanation 1. Jan. 31 2. Jan. 31 3. Jan. 31 4. Jan. 31 5. Jan. 31 6. Jan. 31 7. Jan. 31 8. Jan. 31 Debit Credit Post the annual adjusting journal entries on January 31. (Post entries in the order of journal entries presented in the previous part.) Jan. 31 Cash 5,020 Accounts Receivable Jan. 31 14,510 Jan. 31 Prepaid Insurance 4,560 Jan. 31 Equipment Jan. 31 31,300 Supplies 6,560 Accumulated Depreciation-Equipment Jan. 31 12,520 Accounts Payable Jan. 31 7,790 Jan. 31 Accumulated Depreciation-Equipment Jan. 31 Accounts Payable Notes Payable Jan. 31 12,520 Jan. 31 7,790 Unearned Revenue Jan. 31 Interest Payable Salaries Payable E. Fox, Capital 11,600 Jan. 31 18,250 E. Fox, Drawings 119,800 Service Revenue Jan. 31 Jan. 31 Salaries Expense 67,080 7,270 215,160 Prepare an adjusted trial balance at January 31. FOX ENTERPRISES Adjusted Trial Balance Debit 10 > > Total Credit > $ $