Problem 2-4 Accounting cycle; adjusting entries through post-closing trial balance [LO2-3, 2-5, 2-6, 2-7]

Pastina Company manufactures and sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2013, appears below.

Account Title	Debits	Credits
Cash	30,000
Accounts receivable	40,000
Supplies	1,500
Inventory	60,000
Note receivable	20,000
Interest receivable	0
Prepaid rent	2,000
Prepaid insurance	0
Equipment	80,000
Accumulated depreciation