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On January 31, 2019, the general ledger of Palmer Company showed the following account balances. ACCOUNTS Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accum. Depr.-Equip.
On January 31, 2019, the general ledger of Palmer Company showed the following account balances. ACCOUNTS Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accum. Depr.-Equip. Accounts Payable Sadie Palmer, Capital Fees Income Depreciation Exp.-Equip. Insurance Expense Rent Expense Salaries Expense Supplies Expense 61,500 21,000 7,500 6, 700 90,000 0 15, 200 80, 450 109,500 9, 100 9, 350 Additional Information: a. Supplies used during January totaled $4,950. b. Expired Insurance totaled $1,675. c. Depreciation expense for the month was $1,450. Complete the worksheet through the Adjusted Trial Balance section. Assume that every account has the normal debit or credit balance. The worksheet covers the month of January PALMER COMPANY Worksheet (Partial) Month Ended January 31, 2019 Trial Balance Adjustments Debit Credit Debit Credit Adjusted Trial Balance Debit Credit Account Name Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated DepreciationEquipment Accounts Payable Sadie Palmer, Capital Fees Income Rent Expense Salaries Expense Supplies Expense Insurance Expense Depreciation Expense-Equipment Totals
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