P3-41B (similar to) tion Help x Data Table The unadjusted trial balance of Ashton Air Purification System at December 31, 2016, and the data needed for the adjustments follow. F: (Click the icon to view the trial balance.) (Click the icon to view the adjusting entry information.) Requirements 1. Journalize the adjusting entries on December 31 2. The T-accounts, along with their unadjusted balances have been opened for you. Post the adjusting entries to the T-accounts 3. Prepare the adjusted trial balance. 4. How will Ashton Air Purification System use the adjusted trial balance? Ashton Air Purification System Unadjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Requirement 1. Journalize the adjusting entries on December 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. On December 15, Ashton contracted to perform services for a client receiving $2,400 in advance. Ashton recorded this receipt of cash as Unearned Revenue. As of December 31, Ashton has completed $1,300 of the services. Cash S 7.300 19,300 Date Accounts and Explanation Debit Credit 2,400 (a) Dec. 31 1,200 19,700 $ 4,500 Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue Ashton, Capital Ashton, Withdrawals More Info 3,400 2,400 38,800 9,600 Service Revenue 15,500 3,400 Adjustment data at December 31 follow: a. On December 15, Ashton contracted to perform services for a client receiving $2,400 in advance. Ashton recorded this receipt of cash as Unearned Revenue. As of December 31, Ashton has completed $1,300 of the services. b. Ashton prepaid two months of rent on December 1. C. Ashton used $450 of office supplies. d. Depreciation for the equipment is $900. e. Ashton received a bill for December's online advertising, $800. Ashton will not pay the bill until January. (Use Accounts Payable.) f. Ashton pays its employees on Monday for the previous week's wages. Its employees earn $5,000 for a five-day workweek. December 31 falls on Wednesday this year. g. On October 1, Ashton agreed to provide a four-month air system check (beginning October 1) for a customer for $2,800. Ashton has completed the system check every month but payment has not yet been received and no entries have been made. Salaries Expense Rent Expense Depreciation Expense-Equipment Advertising Expense Supplies Expense 1,700 $ 64,600 S 64,600 Total Print Done Print Done Choose from any list or enter any number in the input fields and then click Check