Reece Financial Services Co., which specializes in appliance repair services, is owned and operated by Joni Reece. Reece Financial Services accounting clerk prepared the following unadjusted trial balance at July 31, 2018:

Reece Financial Services Co.
Unadjusted Trial Balance
July 31, 2018
	Debit Balances		Credit Balances
Cash	10,200
Accounts Receivable	34,750
Prepaid Insurance	6,000
Supplies	1,725
Land	50,000
Building	155,750
Accumulated DepreciationBuilding			62,850
Equipment	45,000
Accumulated DepreciationEquipment			17,650
Accounts Payable			3,750
Unearned Rent			3,600
Common Stock			60,000
Retained Earnings			93,550
Dividends	8,000
Fees Earned			158,600
Salaries and Wages Expense	56,850
Utilities Expense	14,100
Advertising Expense	7,500
Repairs Expense	6,100
Miscellaneous Expense	4,025
	400,000		400,000

The data needed to determine year-end adjustments are as follows:

Required:

Depreciation of building for the year, $6,400.

Depreciation of equipment for the year, $2,800.

Accrued salaries and wages at July 31, $900.

Unexpired insurance at July 31, $1,500.

Fees earned but unbilled on July 31, $10,200.

Supplies on hand at July 31, $615.

Rent unearned at July 31, $300.

1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation ExpenseBuilding; Depreciation ExpenseEquipment; and Supplies Expense.

2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank.