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Here is the problem: The following unadjusted trial balance and additional data are for Fake Sale Realty Company, as of December 31, 2020: Debit Cash

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Here is the problem: The following unadjusted trial balance and additional data are for Fake Sale Realty Company, as of December 31, 2020: Debit Cash Credit 34,000 Accounts Receivable 3,570 Supplies on Hand 1,590 Prepaid Rent 26,040 Equipment 94,500 Accumulated Depreciation 17,600 Accounts Payable 30,600 Capital Stock 40,000 Retained Earnings, Jan. 1, 2020 21,000 Dividends 4,000 Commissions Revenue 246,000 Salaries Expense 190,330 Misc. Expense 1,170 Totals 355,200 355,200 Here is the information needed for the adjustment: 1. The prepaid rent shown on the trial balance if for the six- month period from November 1, 2020 to April 30, 2021. 2. The equipment was purchased in a previous year, had an estimated life of 10 years at the time of purchase, has an expected salvage value of $5,000, and is being depreciated using the straight-line method. 3. Salaries earned by employees the last few days of 2020, but unpaid as of Dec. 31, 2020 amount to $1,400 4. A physical count of the supplies on hand as of December 31, 2020 revealed that $690 were remaining Required: Complete the worksheet for the year ended Dec. 31, 2020

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