Sandhill Management Services Worksheet For the Year Ended December 31, 2020 Trial Balance Adjusted Trial Balance Dr. Cr. Dr. Cr. Cash 13,600 13,600 28,500 28,500 Accounts Receivable Prepaid Insurance 3,528 2,352 Land 69,200 69,200 Buildings 126,400 126,400 59,500 59,500 13,000 13,000 6,000 112,000 1,600 112,000 151,928 151,928 21,800 21,800 Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Owner's Drawings Service Revenue Rent Revenue Salaries and Wages Expense Advertising Expense Utilities Expense Totals 91,900 91,900 29,100 33,500 42,300 42,300 20,200 20,200 18,900 18,900 403,928 403,928 Insurance Expense 1,176 6,300 3,000 Depreciation Expense Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Interest Expense 3,300 11,100 Interest Payable 11,100 Totals 421,328 421,328 Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. Insurance Expense 31 Prepaid Insurance (Adjusting entry for insurance expense) Dec. 31 Depreciation Expense Accumulated Depreciation-Equipment Accumulated Depreciation-Buildings (Adjusting entry for depreciation expense) Dec. 31 Unearned Rent Revenue Rent Revenue (Adjusting entry for unearned rent revenue) Dec. 31 Interest Expense Interest Payable (Adjusting entry for interest expense)