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Sherlock Holmes began operations as a private investigator on January 1, 2016. The trial balance columns of the worksheet for Sherlock Holmes, P.I., Inc, at
Sherlock Holmes began operations as a private investigator on January 1, 2016. The trial balance columns of the worksheet for Sherlock Holmes, P.I., Inc, at March 31 are as follows. Other data: Supplies on hand total $480. Depreciation is $720 per quarter. Interest accrued on 6-month note payable, issued January 1, $300. Insurance expires at the rate of $200 per month. Services provided but unbilled at March 31 total $1, 080. Enter the trial balance on a worksheet and complete the worksheet. Prepare an income statement and a retained earnings statement for the quarter classified balance sheet at March 31. Journalize the adjusting entries from the adjustments columns of the worksheet. Journalize the closing entries from the financial statement columns of the worksheet
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