Garvey Company's unadjusted trial balance includes the following account balances as of December 31, 2018: Credits Debits $ 69,420 118,700 1,380 141,400 8,900 51,200 283,400 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 Repair and Maintenance Expense Rent Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Totals $ 65, 700 106,100 22,000 9,600 89,000 220, 500 146,300 41,300 22,300 27,000 18,200 3,200 $722,800 $722,800 The following data are available to determine adjusting entries: A) Insurance purchased at the beginning of July for $8.900 provided coverage for twelve months (July 2018 through June 2019). The insurance coverage for July through December totaling $4,450 has now been used. B) The company estimates $8,350 in depreciation each year. C) A count showed $87,700 of supplies on hand at the end of the year. D) An additional $300 of interest has been earned but has not yet been uncollected on the outstanding notes receivable. E) Services in the amount of $5,800 were performed for customers who had previously paid in advance. F) Services in the amount of $2,400 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. Complete this question by entering your answers in the tabs below. Prepare the adjusting entries that are required at the end of the period. (If no entry is required for a transaction/eve Journal Entry Required in the first account field. View transaction list View journal entry No 35 Debit General Journal Credit Transaction A. 4,450 Insurance Expense Prepaid Insurance / 4,450 / / B Depreciation Expense Accumulated Depreciation 8,350 38/ / al IIIIIIII 8,350 / 53,700 Supplies Expense Supplies 53,700 300 Interest Receivable Interest Revenue 300 5,800 Deferred Revenue Service Revenue 5,800 2.400 Accounts Receivable Service Revenue 2,400 Required 3 > Required A Required B Prepare an adjusted trial balance by completing the related columns in the table below. 51 06 Garvey Company Adjusted Trial Balance December 31, 2018 Debit Cash $ 69,4 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 $ 69,420 $
