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Garvey Company's unadjusted trial balance includes the following account balances as of December 31, 2018: Credits Debits Cash $69,160 117,500 1,340 140,000 8,800 Accounts Receivable Interest Receivable Supplies Prepaid Insurance Notes Receivable (short- 50,600 term Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Deferred Revenue 280,600 $65,100 105,100 21,800 9,400 Notes Payable (long- term) 88,200 218,300 144,900 40,900 22,100 Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Repair and Maintenance Expense Rent Expense Depreciation Expense Insurance Expense Salaries and Wages 26,700 18,000 3,100 Expense $715,800 $715,800 Totals The following data are available to determine adjusting entries: A) Insurance purchased at the beginning of July for $8,800 provided coverage for twelve months (July 2018 through June 2019). The insurance coverage for July through December totaling $4,400 has now been used. B) The company estimates $8,250 in depreciation each year. C) A count showed $86,700 of supplies on hand at the end of the year. D) An additional $280 of interest has been earned but has not yet been uncollected on the outstanding notes receivable. E) Services in the amount of $5,700 were performed for customers who had previously paid in advance. F) Services in the amount of $2,200 were performed; these services have not yet been billed or recorded. Required: a. Prepare the adjusting entries that are required at the end of the period b. Prepare an adjusted trial balance by completing the related columns in the table below. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required Required B A Prepare the adjusting entries that are required at the end of the period. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Show lessA View transaction list View journal entry worksheet Credit No Transaction General Journal Debit Insurance Expense Prepaid Insurance 4,400 1 4,400 2 Depreciation Expense Accumulated Depreciation 8,250 B 8,250 |Supplies Expense Supplies 53,300 3 . 53,300 4 D. Interest Receivable 280 Interest Revenue 280 Deferred Revenue 5,700 . 5,700 Service Revenue Accounts Receivable 2,200 6 F 2,200 Service Revenue Required B Required A Complete this question by entering your answers in the tabs below. Required Required A Prepare an adjusted trial balance by completing the related columns in the table below. Garvey Company Adjusted Trial Balance December 31, 2018 Debit Credit Cash $ 69,160 119,700 1,620 86,700 4,400 Accounts Receivable Interest Receivable Supplies Prepaid Insurance Notes Receivable (short- term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable 50,600 280,600 73,350 105,100 21,800 3,700 88,200 218,300 144,900 48,800 22,380 Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Repairs and Maintenance Expense Rent Expense Depreciation Expense Insurance Expense Salaries and Wages Expense 53,300 26,700 18,000 8,250 4,400 3,100 726,530 726,530 Totals
