Instructions

Prepare an adjusted trial balance from the following account information, anc accounts have normal balances$).$

Accounts payable

Accounts receivable

Investments

Cash

Common stock

Dividends

Prepaid insurance

Insurance expense

Land

Notes payable $($long term$)$

Salaries expense

Sales revenue

$$18,000$

$4,000$

$88,000$

$19,000$

$30,000$

$16,000$

$20,000$

$8,000$

$26,000$

$55,000$

$37,000$

$115,000$

Adjustments needed:

Accrued interest revenue on investments at period end, $$2,200$

Insurance still unexpired at end of the period, $$12,000$