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Kelvin Motorvehicle Rentals before adjusting entries were made. The following items were not reflected in the statements: 1. Rental revenue earned but not collected or
Kelvin Motorvehicle Rentals before adjusting entries were made. The following items were not reflected in the statements: 1. Rental revenue earned but not collected or recorded, $1200. 2. Depreciation on vehicles not recorded, $14 500. 3. Wages earned by employees but not paid at year-end, $5600. 4. The company requires the first-day rental in advance as a deposit for making a reservation. The deposit is either deducted from the total rental charges or is forfeited. During the last week of June, deposits earned were not recorded as revenue, $900. Required Prepare the necessary adjusting entries in general journal form (narrations are required). Prepare the adjusted trail balance
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