Prepare annual adjusting entries as of december 31, 2020

Question 4 of 5 -/2 View Policies Current Attempt in Progress The following are the trial balance and the other information related to Bruce Bramble who operates a construction hauling business. Credit $2,500 BRAMBLE TRIAL BALANCE DECEMBER 31, 2020 Debit Cash $35,500 Accounts Receivable 51,200 Allowance for Doubtful Accounts Supplies 2,800 Prepaid Insurance 1,200 Equipment 28,000 Accumulated Depreciation-Equipment Notes Payable Owner's Capital Service Revenue Rent Expense 11,700 Salaries and Wages Expense 30,750 Utilities Expenses 1,320 Office Expense 760 $163,230 6,750 9,600 45,370 99,010 $163,230 45,370 99,010 Owner's Capital Service Revenue Rent Expense Salaries and Wages Expense Utilities Expenses Office Expense 11,700 30,750 1,320 760 $163,230 $163,230 1. 2. 3. 4. Fees received in advance from clients $5,500, which were recorded as revenue. Services performed for clients that were not recorded by December 31, $5,400 Equipment is being depreciated at 8% per year. Bad debt expense for the year is $1,500. Insurance expired during the year $560. Bramble gave the bank a 90-day, 5% note for $9,600 on December 1, 2020. Rent of the building is $900 per month. The rent for 2020 has been paid, as has that for January 2021. Office salaries and wages earned but unpaid December 31, 2020, $1.340. 5. 6. 7. Bramble withdrew $12.000 cash for personal use during the year. MacBook Pro somework Exercise Question 4 of 5 -72 From the trial balance and other information given, prepare annual adjusting entries as of December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Use 360 days for calculation.) No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. 7