q10-financial accounting

Current Attempt in Progress The unadjusted trial balance of Martinez Enterprises for the year ended December 31. 2024, follows: Additional information: 1. There is $800 of supplies on hand on December 31,2024 1. There is $800 of supplies on hand on December 31,2024 . 2. The one-year insurance policy was purchased on March 1, 2024. 3. Depreciation expense for the year is $11,200 for the equipment and $5,500 for the furniture. 4. Accrued interest expense at December 31,2024 , is $725. 5. Unearned revenue of $990 is still unearned at December 31,2024 . On the amount that was earned, cost of goods sold was $1,800. 6. A physical count of merchandise inventory indicates $32,550 on hand on December 31,2024 . 7. Martinez Enterprises uses the perpetual inventory system and the eamings approach. (a) Prepare the adjusting entries assuming they are prepared annually. (Credit account titles are automatically indented when the omount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List all debit entries before credit entries.) 2. Dec 31 (To record insurance expired.) 3. Dec 31 (To record depreciation.) 4. Dec 31 (To accrue interest expense). 5. Dec 31 (To recognlze sales carned.) Dec 31 (b) The parts of thils question must be completed in order. This part will be available when you complete the part above