Martin Editing Company is a small editorial services company owned and operated by Andrew Martin. On August $31,20$Y$1,$ the end of the current year, Martin Editing Company$$s accounting clerk prepared the following unadjusted trial balance:

Martin Editing Company

UNADJUSTED TRIAL BALANCE

August $31,20$Y$1$

ACCOUNT TITLE DEBIT CREDIT

$1$

Cash

$7,420\mathrm{.}00$

$2$

Accounts Receivable

$38,115\mathrm{.}00$

$3$

Prepaid Insurance

$7,050\mathrm{.}00$

$4$

Supplies

$1,630\mathrm{.}00$

$5$

Land

$114,550\mathrm{.}00$

$6$

Building

$150,250\mathrm{.}00$

$7$

Accumulated Depreciation$-$Building

$88,800\mathrm{.}00$

$8$

Equipment

$133,200\mathrm{.}00$

$9$

Accumulated Depreciation$-$Equipment

$96,605\mathrm{.}00$

$10$

Accounts Payable

$12,560\mathrm{.}00$

$11$

Unearned Rent

$7,035\mathrm{.}00$

$12$

Common Stock

$74,980\mathrm{.}00$

$13$

Retained Earnings

$142,235\mathrm{.}00$

$14$

Dividends

$15,055\mathrm{.}00$

$15$

Fees Earned

$327,900\mathrm{.}00$

$16$

Salaries and Wages Expense

$194,870\mathrm{.}00$

$17$

Utilities Expense

$42,345\mathrm{.}00$

$18$

Advertising Expense

$22,335\mathrm{.}00$

$19$

Repairs Expense

$17,690\mathrm{.}00$

$20$

Miscellaneous Expense

$5,605\mathrm{.}00$

$21$

Totals

$750,115\mathrm{.}00$

$750,115\mathrm{.}00$

The data needed to determine year$-$end adjustments are as follows:

$$ Unexpired insurance at August $31,$ $$6,130.$

$$ Supplies on hand at August $31,$ $$615.$

$$ Depreciation of building for the year, $$7,610.$

$$ Depreciation of equipment for the year, $$4,300.$

$$ Rent unearned at August $31,$ $$1,490.$

$$ Accrued salaries and wages at August $31,$ $$3,040.$

$$ Fees earned but unbilled on August $31,$ $$10,865.$

Required:

$1.$ Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation Expense$$Building; Depreciation Expense$$Equipment; and Supplies Expense.

$2.$ Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.