Question 1 The following are the trial balance and the other information related to Bruce Swifty, who operates a construction hauling business SWIFTY TRIAL BALANCE DECEMBER 31, 2017 Debit $40,000 50,400 Credit Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurancee Equipment Accumulated Depreciation-Equipment Notes Payable Owner's Capital Service Revenue Rent Expense Salaries and Wages Expense Utilities Expenses Office Expense $2,900 3,080 1,300 32,000 6,250 4,800 45,850 111,050 11,050 31,000 1,140 880 $170,850 $170,850 1. Fees received in advance from clients $4,800 2. Services performed for clients that were not recorded by December 31, $4,700 3. Equipment is being depreciated at 896 per year 4. Bad debt expense for the year is $1,260 5. Insurance expired during the year $480 6, Swifty gave the bank a 90-day, 5% note for $4,800 on December 1, 2017 7. Rent of the building is $850 per month. The rent for 2017 has been paid, as has that for January 2018 8. Office salaries and wages earned but unpaid December 31, 2017, $1,480 Swifty withdrew $11,000 cash for personal use during the year Question 1 The following are the trial balance and the other information related to Bruce Swifty, who operates a construction hauling business SWIFTY TRIAL BALANCE DECEMBER 31, 2017 Debit $40,000 50,400 Credit Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurancee Equipment Accumulated Depreciation-Equipment Notes Payable Owner's Capital Service Revenue Rent Expense Salaries and Wages Expense Utilities Expenses Office Expense $2,900 3,080 1,300 32,000 6,250 4,800 45,850 111,050 11,050 31,000 1,140 880 $170,850 $170,850 1. Fees received in advance from clients $4,800 2. Services performed for clients that were not recorded by December 31, $4,700 3. Equipment is being depreciated at 896 per year 4. Bad debt expense for the year is $1,260 5. Insurance expired during the year $480 6, Swifty gave the bank a 90-day, 5% note for $4,800 on December 1, 2017 7. Rent of the building is $850 per month. The rent for 2017 has been paid, as has that for January 2018 8. Office salaries and wages earned but unpaid December 31, 2017, $1,480 Swifty withdrew $11,000 cash for personal use during the year