Garvey Companys unadjusted trial balance includes the following account balances as of December 31, 2018:

	Debits			Credits
Cash	$	69,030
Accounts Receivable		116,900
Interest Receivable		1,320
Supplies		139,300
Prepaid Insurance		8,750
Notes Receivable (short-term)		50,300
Equipment		279,200
Accumulated Depreciation				$	64,800
Accounts Payable					104,600
Salaries and Wages Payable					21,700
Deferred Revenue					9,300
Notes Payable (long-term)					87,800
Common Stock					217,200
Retained Earnings					144,200
Service Revenue					40,700
Interest Revenue					22,000
Supplies Expense
Repair and Maintenance Expense		26,550
Rent Expense		17,900
Depreciation Expense
Insurance Expense
Salaries and Wages Expense		3,050
Totals	$	712,300		$	712,300

The following data are available to determine adjusting entries:

1. A) Insurance purchased at the beginning of July for $8,750 provided coverage for twelve months (July 2018 through June 2019). The insurance coverage for July through December totaling $4,375 has now been used.
2. B) The company estimates $8,200 in depreciation each year.
3. C) A count showed $86,200 of supplies on hand at the end of the year.
4. D) An additional $270 of interest has been earned but has not yet been uncollected on the outstanding notes receivable.
5. E) Services in the amount of $5,650 were performed for customers who had previously paid in advance.
6. F) Services in the amount of $2,100 were performed; these services have not yet been billed or recorded.

Required:

1. Prepare the adjusting entries that are required at the end of the period.
2. Prepare an adjusted trial balance by completing the related columns in the table below.

A) adjusting entries required at the end of the period:

1)

• Record the adjusting entry for insurance expense expired during the period.
• Record the adjusting entry for depreciation expense for the period.
• Record the adjusting entry for supplies used during the period.
• Record the adjusting entry for interest earned and receivable on the outstanding notes receivable for the period.
• Record the adjusting entry for services performed, for which customers had previously paid in advance.
• Record the adjusting entry for services performed, which are not yet billed or recorded.

Required B:

Credit Garvey Company Adjusted Trial Balance December 31, 2018 Debit Cash Accounts Receivable Interest Receivable Supplies Prepaid Insurance Notes Receivable (short-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Repairs and Maintenance Expense Rent Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Totals