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Inear Hearing is owned by Christina Earring and provides hearing aids and other auditory services. At the end of December 2016, the company had the
Inear Hearing is owned by Christina Earring and provides hearing aids and other auditory services. At the end of December 2016, the company had the following adjustments. Dec 31 Interest on the bank loan is set at 10%. One month of interest has accrued. The balance of prepaid insurance is for the remaining 8 months of the insurance policy. One month of insurance has been Dec 31 used. The equipment was purchased two months prior at the beginning of the month and will have a useful life of 7 years, after Dec 31 which it will have no residual value. Depreciation is recorded every month. Record depreciation for December Dec 31 Inear Hearing completed $590 of work that was previously unearned. Dec 31 Office supplies used during the month totalled $280. Required Using the following trial balance, complete the adjustments and the adjusted trial balance in the worksheet. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. Inear Hearing Worksheet December 31, 2016 Adjustments Adjusted Trial Balance Unadjusted Trial Balance DR CR DR Account DR CR CR 4100 Cash 4,100 acer Unadjusted Trial Balance DR CR Adjustments Adjusted Trial Balance Account DR CR DR CR Cash 4,100 4100 Accounts Receivable 1,950 1950 Prepaid Insurance 1,680 1680 Office Supplies 1,490 1490 Equipment 15,200 Accumulated Depreciation 362 Accounts Payable 2,900 Interest Payable Unearned Revenue 2,200 Bank Loan 6,800 Earring, Capital 10,158 Samtina Downs 1.700 acer Interest Payable Unearned Revenue 2,200 Bank Loan 6,800 Earring. Capital 10,158 Earring, Drawings 1,700 Service Revenue 8,200 Depreciation Expense Insurance Expense Interest Expense Office Supplies Expense Rent Expense 1,500 Salaries Expense 3,000 Total 30,620 30,620 HE acer
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