Information for Adjusting Entries on December 31, 2021
1	An aging of accounts receivable revealed that 5% of accounts receivable are uncollectible.
2	Depreciation Expense: Straight Line Depreciation is used.
	You will need to think about this carefully
	(a) For equipment purchased PRIOR to 2021, the equipment has a $15,000 salvage value and a useful life of 9 years.
	(b) For equipment purchased DURING 2021, the equipment has an $9,000 salvage value and a 9-year useful life.
3	Pre-paid rent needs to be adjusted. Assume the beginning balance of pre-paid rent represented rent from January 1 to September 1.
4	Salaries accrued but not yet paid are $14,000.
5	Accrue the interest on the note payable that was given for the purchase of equipment.
6	Utilities owed but not yet paid are $2,200.
7	Supplies on hand are $675.
8	The income tax rate is 25% of income before taxes (note - you will need to calculate income before taxes before you can make this last adjusting entry!).

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Trial Balance
December 31, 2021
Account Title	Debit	Credit
Cash	863,400
Accounts Receivable	42,800
Allowance for Doubtful (Uncollectible) Accounts	800
Inventory	173,000
Supplies	7,400
Prepaid Rent	33,000
Equipment	285,000
Accumulated Depreciation - Equipment		12,000
Accounts Payable		104,800
Income Taxes Payable		4,000
Notes Payable		90,000
Common Stock, $2 par value		150,000
Additional Paid In Capital - Common		215,000
Preferred Stock, $25 par value		175,000
Retained Earnings		59,000
Dividends	10,000
Sales Revenue		950,000
Sales Discounts	17,000
Sales Returns and Allowances	12,000
Gains		5,000
Cost of Goods Sold	237,000
Interest Expense	2,400
Maintenance and Repair Expense	2,400
Salary Expense	73,400
Utilities Expense	5,200
	1,764,800	1,764,800

Create an adjusted Trial balance for dec 31st 2021