Presented below is the trial balance of the Whispering Golf Club, Inc. as of December 31. The books are closed annually on December 31. WHISPERING GOLF CLUB, INC. TRIAL BALANCE DECEMBER 31 Debit Credit Cash Accounts Receivable $17,150 15,000 Allowance for Doubtful Accounts $1,100 Prepaid Insurance 9,390 Land 370,400 Buildings 120,000 Accumulated Depreciation-Buildings 37,217 Equipment 183,900 Accumulated Depreciation-Equipment 68,590. Common Stock 379.100 Retained Earnings 159.155 Retained Earnings Dues Revenue Green Fees Revenue Rent Revenue 159,155 217,000 5,878 16,500 Utilities Expenses 56,310 Salaries and Wages Expense 83,890 Maintenance and Repairs Expense 28,500 $884,540 $884,540 Enter the balances in ledger accounts. 4 Cash Accounts Receivable Allow. for Doubtful Accts. Land Buildings Accum. Depr.-Buildings Equipment Prepaid Insurance Common Stock Retained Earnings Dues Revenue Green Fees Revenue A Green Fees Revenue Rent Revenue Utilities Expenses Salaries and Wages Expense Maintenance and Repairs Expense Accum. Depr.-Equipment From the trial balance and the information given below, prepare annual adjusting entries. (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 0 for the amounts.) (1) The buildings have an estimated life of 30 years with no salvage value (straight-line method). (2) The equipment is depreciated at 10% per year. (3) Insurance expired during the year $3,440. (4) The rent revenue represents the amount received for 11 months for dining facilities. The December rent has not yet been received. (Use Rent Receivable account.) (5) It is estimated that 12% of the accounts receivable will be uncollectible. 5 *(6) Salaries and wages earned but not paid by December 31, $3,820. (7) Dues received in advance from members $9,052, were recorded as Dues Revenue. Post adjusting entries to the ledger accounts. (Post entries in the order as displayed in the part above.) Bal. Bal. Cash 17,150 Accounts Receivable 15,000 Allow. for Doubtful Accts. Bal. Land Bal. 370,400 Buildings Bal. 120,000 Accum. Depr.-Buildings 1,100 Bal. 37,217 Bal. Bal. Bal. 120,000 Accum. Depr.-Buildings Bal. 37,217 Rent Receivable Salaries and Wages Payable Equipment 183,900 Prepaid Insurance 9,390 Bal. Common Stock Bal. Retained Earnings Bal. Dues Revenue Bal. Green Fees Revenue Bal. Rent Revenue 379,100 159,155 217,000 5,878 Bal. 16,500 Utilities Expenses 56,310 Bal. Bal. Bad Debt Expense Unearned Dues Revenue Salaries and Wages Expense 83,890 Maintenance and Repairs Expense 28,500 Depreciation Expense Accum. Depr.-Equipment Bal. 68,590 Insurance Expense