Part 1b: Post the adjusting journal entries to t-accounts:

(Specific instructions: Above each T-account, write the account name of each account affected by a journal entry. Write in the unadjusted balance for each of these accounts (from page 1)the unadjusted balance might be a debit, a credit, or zero balance. Now you are ready to post your journal entries from page 2 onto the corresponding T-accounts and then calculate adjusted balances.)

Part 1c: Prepare the Adjusted Trial Balance (i.e., use ending balances after the previous journal entries are posted)

December 31, 2017

Adjusted Trial balance

Debit Credit

Cash
Accounts Receivable
Allowance for Doubtful Accounts
Short Term Note Receivable
Interest Receivable
Supplies
Prepaid Insurance
Inventory
Vehicle
Equipment
Accumulated Depreciation
Accounts Payable
Unearned Revenue
Wages Payable
Long-Term Notes Payable
Common Stock
Retained Earnings (1/1/2017)
Dividends
Sales
Sales Returns & Allowances
Sales Discounts
Cost of Goods Sold
Delivery Expense
Depreciation Expense
Bad Debt Expense
Rent Expense
Insurance Expense
Wages Expense
Supplies Expense
Interest Revenue
Loss on Disposal
Interest Expense
Income Tax Expense
Total

Insert image of your assigned Adjusted Trial Balance HERE: Lawrence Company, Inc. December 31, 2017 Adjusted Trial balance Debit Credit Cash 45,000 Accounts Receivable 44,900 Allowance for Doubtful Accounts 2,000 Short Term Note Receivable 80,000 Interest Receivable 2,400 Supplies 5,000 Prepaid Insurance 40,000 Inventory 16,500 Vehicle 16,000 Equipment 41,000 Accumulated Depreciation 18,000 Accounts Payable 15,000 Unearned Revenue 18,000 Wages Payable 7,000 Long-Term Notes Payable 65,000 Common Stock 106,000 Retained Earnings (1/1/2017) 2,500 Dividends 2,000 Sales 539,500 Sales Returns & Allowances 7,600 Sales Discounts 3,000 Cost of Goods Sold 51,000 Delivery Expense 2,000 Depreciation Expense 19,000 Bad Debt Expense 2,000 Rent Expense 98,000 Insurance Expense 40,000 Wages Expense 195,000 Supplies Expense 15,500 I Interest Revenue 2,400 Loss on Disposal 7,000 Interest Expense 6,500 Income Tax Expense 36.000 Total 775,400 775,400 Insert image of your assigned Adjusted Trial Balance HERE: Lawrence Company, Inc. December 31, 2017 Adjusted Trial balance Debit Credit Cash 45,000 Accounts Receivable 44,900 Allowance for Doubtful Accounts 2,000 Short Term Note Receivable 80,000 Interest Receivable 2,400 Supplies 5,000 Prepaid Insurance 40,000 Inventory 16,500 Vehicle 16,000 Equipment 41,000 Accumulated Depreciation 18,000 Accounts Payable 15,000 Unearned Revenue 18,000 Wages Payable 7,000 Long-Term Notes Payable 65,000 Common Stock 106,000 Retained Earnings (1/1/2017) 2,500 Dividends 2,000 Sales 539,500 Sales Returns & Allowances 7,600 Sales Discounts 3,000 Cost of Goods Sold 51,000 Delivery Expense 2,000 Depreciation Expense 19,000 Bad Debt Expense 2,000 Rent Expense 98,000 Insurance Expense 40,000 Wages Expense 195,000 Supplies Expense 15,500 I Interest Revenue 2,400 Loss on Disposal 7,000 Interest Expense 6,500 Income Tax Expense 36.000 Total 775,400 775,400