Sears Editing Company is a small editorial services company owned and operated by Deloris Sears On January 31, 20Y1, the end of the current year, Sears Editing Company's accounting clerk prepared the following unadjusted trial balance Sears Editing Company UNADJUSTED TRIAL BALANCE January 31, 20Y1 ACCOUNT TITLEDEBITCREDIT1 Cash 7,655 00 2 Accounts Receivable 38,345 00 3 Prepaid Insurance 7,075 00 4 Supplies 2,290 00 5 Land 113,500 00 6 Building 149,450 00 7 Accumulated Depreciation Building 87,905 00 8 Equipment 133,250 00 9 Accumulated Depreciation Equipment 96,435 00 10 Accounts Payable 11,860 00 11 Unearned Rent 6,705 00 12 Common Stock 74,530 00 13 Retained Earnings 146,290 00 14 Dividends 14,690 00 15 Fees Earned 328,600 00 16 Salaries and Wages Expense 198,220 00 17 Utilities Expense 42,120 00 18 Advertising Expense 22,315 00 19 Repairs Expense 17,210 00 20 Miscellaneous Expense 6,205 00 21 Totals 752,325 00 752,325 00 The data needed to determine year end adjustments are as follows a Unexpired insurance at January 31, $5,860 b Supplies on hand at January 31, $545 c Depreciationof building for the year, $7,985 d Depreciation of equipment for the year, $4,080 e Rent unearned at January 31, $1,145 f Accrued salaries and wages at January 31, $3,490 g Fees earned but unbilled on January 31, $11,640 Required 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 Refer to the Chart of Accounts for exact wording of account titles 2 Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance

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Sears Editing Company is a small editorial services company owned and operated by Deloris Sears. On January 31, 20Y1, the end of the current year,

Sears Editing Company is a small editorial services company owned and operated by Deloris Sears. On January 31, 20Y1, the end of the current year, Sears Editing Company's accounting clerk prepared the following unadjusted trial balance:

Sears Editing Company

UNADJUSTED TRIAL BALANCE

January 31, 20Y1

ACCOUNT TITLEDEBITCREDIT1

Cash

7,655.00

Accounts Receivable

38,345.00

Prepaid Insurance

7,075.00

Supplies

2,290.00

Land

113,500.00

Building

149,450.00

Accumulated Depreciation-Building

87,905.00

Equipment

133,250.00

Accumulated Depreciation-Equipment

96,435.00

Accounts Payable

11,860.00

Unearned Rent

6,705.00

Common Stock

74,530.00

Retained Earnings

146,290.00

Dividends

14,690.00

Fees Earned

328,600.00

Salaries and Wages Expense

198,220.00

Utilities Expense

42,120.00

Advertising Expense

22,315.00

Repairs Expense

17,210.00

Miscellaneous Expense

6,205.00

Totals

752,325.00

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

a.Unexpired insurance at January 31, $5,860.b.Supplies on hand at January 31, $545.c.Depreciationof building for the year, $7,985.d.Depreciation of equipment for the year, $4,080.e.Rent unearned at January 31, $1,145.f.Accrued salaries and wages at January 31, $3,490.g.Fees earned but unbilled on January 31, $11,640.Required: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. Refer to the Chart of Accounts for exact wording of account titles.2.Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.