he unadjusted trial balance that you prepared for PS Music at the end of Chapter 2 should appear as follows: PS Music UNADJUSTED TRIAL BALANCE July 31, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 9,945.00 2 Accounts Receivable 2,750.00 3 Supplies 1,020.00 4 Prepaid Insurance 2,700.00 5 Office Equipment 7,500.00 6 Accumulated Depreciation-Office Equipment 7 Accounts Payable 8,350.00 8 Wages Payable 9 Unearned Revenue 7,200.00 10 Peyton Smith, Capital 9,000.00 11 Peyton Smith, Drawing 1,750.00 12 Fees Earned 16,200.00 13 Wages Expense 2,800.00 14 Office Rent Expense 2,550.00 15 Equipment Rent Expense 1,375.00 16 Utilities Expense 1,215.00 17 Music Expense 3,610.00 18 Advertising Expense 1,500.00 19 Supplies Expense 180.00 20 Insurance Expense 21 Depreciation Expense 22 Miscellaneous Expense 1,855.00 23 Totals 40,750.00 40,750.00 The data needed to determine adjustments are as follows: During July, PS Music provided guest disc jockeys for KXMD for a total of 115 hours. Since the company only contracted for 80 hours per month, make an adjusting entry to accrue the additional 35 hours of service. NOTE: The unearned revenue account will not be affected in this adjustment. For information on the amount of the accrued revenue to be billed to KXMD, see the contract described in the July 3, 2016, transaction at the end of Chapter 2.* Supplies on hand at July 31, $275. The balance of the prepaid insurance account relates to the July 1, 2016, transaction at the end of Chapter 2.* Depreciation of the office equipment is $50. The balance of the unearned revenue account relates to the contract between PS Music and KXMD, described in the July 3, 2016, transaction at the end of Chapter 2.* Accrued wages as of July 31, 2016, were $140. *The chapter 2 list of transactions are included in a separate panel of this problem for your convenience. 1. Prepare adjusting journal entries. Refer to the Chart of Accounts for exact wording of account titles. 2. Post the adjusting entries, inserting balances in the accounts affected. Do not enter anything in the Item column. Indicate a zero balance by inserting a 0 (zero) in either of the Balance columns opposite the adjusting entry. 3. Prepare an adjusted trial balance.