prepare journel entries and prepare an update trail balance.

CP10 Hassehouf Companys trial balance at December 11, 2017, is presented below All 2017 trans- actions have been recorded except for the inems described as unrecorded transacticns Debi 5 28,000 Credit Accounts Receivable Notrs Receivable Interest Receivable 6,800 16,200 Prepaid Insurance 20,000 150.000 60,000 Allowance for Doubeful Accounts Accumalated Depreclation-Buildings Accumalated Depreciation- Equipment 500 24.000 27.100 Salaries and Wages Payable Unearned Rent Revenue Notes Payable (due in 2018) 11,000 Notrs Payable (due after 2018 Owners Capital Owne's Deawings Sales Revenac 113,800 12,000 905 000 Gain on Disposal of Plant Assets Rad Debe Expenme Cost of Goods Sold 630,000 Insurance Expense Interest Expensc Osher Operating Expenmes Amortization Expense Salaries and Wages Expense Total 61,800 110,000 51167.4000 5 40 $1, 167 1. On May 1, 2057, Hassellhood parchased eqaipment for 521 200 plus sales taves of $1,600 (all paid 2. On July I,2017, Hasseilbouf sold for $3,500 equigment which originally cost $5,000 Accumulated depreciation on this equipment at Jaary 1,2017,was $1,800 2017 depeciation prior to the sale of the equipment was $450 3. On December 31. 2017, Hansellhouf sold on accout 59,000 of inventory that cose $6,300. 4 Hasselthouf estimates that uncollectible accounts receivable at yearend is $3.500 5The nose recevable is a one-year, 8% note dated April 1, 2017, interest has been recorded. . The balance in prepaid insurance represents payment of a 53,000 6-month premium on Septem- ber 1, 2017 7The bilding is being depreciated using the straghi-line method over 30 years. The salvage vale $30,000 Find more at www.downloadslide.com 484 10 Plant Asets Natural Resources, and Iintangible Assets 8. The equipment owned prioe to this year is being depreciated using the straighi-line method aver 5years. The salage rake is 10% of cont. 9. The equipment purchased on May 1, 2017, is being deprecialed uing the straight-line method over 5 years, with a savage valac of $1,800 10. The pasent was acquired on January 1, 2017, and has a useful life of 10 years from that date I1. Uapaid salaries and wages at December 31, 2017, sotal $5,200. 12. The unearsed rent revenue of $6,000 was received on December 1, 2017, for 3 months' rent. 13. Both the short-term and long-term notes payable are dated January 1. 2017, and carry a 9% iner est rate. All interest is payable in the next 12 months