- Need Trial Balance for Dec. 31

- Then Need Adjusted Trial Balance for Dec. 31

General Journal Page1 Trial Balance December 23,2022 Acct \# Account Debit Credit 101 Cash 102 Accounts Receivable 103 Allowance for Bad Debts 104 Merchandise Inventory 27,800 105 Office Supplies 3,600 106 Prepaid Rent 2,400 110 Land 50,000 111 Building 150,000 112 Accumulated Depreciation - Building 56,000 115 Equipment 65,000 116 Accumulated Depreciation - Equipment 39,000 201 Accounts Payable 8,700 204 Unearned Revenue 210 Notes Payable 301 Common Stock 302 Retained Earnings 26,000 305 Dividends 8,500 401 Sales 245,000 402 Sales Discount Forfeited 1,100 501 Cost of Goods Sold 502 Wages Expense 503 Rent Expense 504 Utilities Expense Totals Trial Balance - December 31 Adjusted Trial Balance - December 31 Debit Credit Information for year-end adjusting entries: - On December 31, there are $1,000 of office supplies on hand - On December 31, MWP has delivered $4,500 of the merchandise customers had paid for in advance during the year. This merchandise cost MWP $2,800. - MWP borrowed the $60,000 on October 1,2022 . MWP must make annual interest payments each September 30 and pay the full note on September 30,2025 . The interest rate on the note is 6%. - Employees have earned $2,700 in wages for work done since the last payday (December 24) - The prepaid rent was paid on July 1,2022 , and covers a one-year period starting on July 1, 2022. - The Building has a twenty-year life and a $10,000 salvage value. - The Equipment has a five-year useful life and no salvage value. - December utilities are $290 and will be paid in January - MWP estimates its bad debts at 5% of its accounts receivable balance. Check Figures: December 31 Trial Balance Debits and Credits = \$556,370 December 31 Adjusted Trial Balance Debits and Credits =$581,055