Garvey Company's unadjusted trial balance includes the following account balances as of December 31, 2022: Credits Debits $ 69,030 116,900 1,320 139,300 8,750 50,300 279,200 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 $ 64,800 104,600 21,700 9,300 87,800 217,200 144,200 40,700 22,000 26,550 17,900 3,050 $ 712,300 $ 712,300 The following data are available to determine adjusting entries: A) Insurance purchased at the beginning of July for $8,750 provided coverage for twelve months (July 2022 through June 2023). The insurance coverage for July through December totaling $4,375 has now been used. B) The company estimates $8,200 in depreciation each year. C) A count showed $86,200 of supplies on hand at the end of the year. D) An additional $270 of interest has been earned but has not yet been uncollected on the outstanding notes receivable. E) Services in the amount of $5,650 were performed for customers who had previously paid in advance. F) Services in the amount of $2,100 were performed; these services have not yet been billed or recorded. Required: a. Prepare the adjusting entries that are required at the end of the period. b. Prepare an adjusted trial balance by completing the related columns in the table below. Prepare the adjusting entries that are required at the end of the period. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry for insurance expense expired during the period. Note: Enter debits before credits. Transaction General Journal Debit Credit A. Record entry Clear entry View general journal Prepare an adjusted trial balance by completing the related columns in the table below. Credit Garvey Company Adjusted Trial Balance December 31, 2022 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
