Problem 5E: ADJUSTING JOURNAL ENTRIES DEZ FOODS Unadjusted Trial Balance December 31, 2022 2022 Copyright by Ruben Davila - No copying or distribution without express written authorization. Cash Account Accounts Receivable Investments-Marketable Securities Inventory Prepaid Insurance Note Receivable Equipment Patent Accounts Payable Deferred Revenue Bank Loan Payable Common Stock, No Par Value Dr. Cr. 120,000 45,000 50,000 65,000 10,000 50,000 190,000 80,000 58,000 6,000 100,000 102,000 295,000 5,000 1,620,000 3,000 2022 Copyright by Ruben Davila - No copying or distribution without express written authoriza Retained Earnings Dividends Sales Dividend Income Cost of Goods Sold Salaries Expense Acctg. & Legal Expense Advertising Expense Rent Expense Utilities Expense Miscellaneous Expense REQUIREMENT 1 1,000,000 300,000 75,000 70,000 100,000 20,000 4,000 2,184,000 2,184,000 Use the information below to prepare adjusting journal entries. Post these journal entries to the T-accounts attached and balance the accounts. AJES are for the FISCAL YEAR ENDED 12/31/22 a. An audit of cash in bank accounts and on hand reveals that $400 is missing from the company's 20 retail locations b. A count of inventory indicated an ending balance of $64,500. c Dividends of $3,000 were declared on marketable securities. The dividends will be received in March 2023 Market Value of the Marketable Securities was $58,500 on 12/31/22 d. $3,000 of Accounts Receivable is estimated to be uncollectible. e. Salaries of $5,500 was earned by employees but not paid. f. Depreciation for the year was calculated to be $20,000. g. Interest on the loan payable incurred but not paid was $500. h. Interest earned on the notes receivable was $2000. i. Amortization of patent $5,000 j. 1/2 of the Prepaid Insurance had been used as of 12/31. k. Income tax expense was estimated at $3000.