Southwest Business School Adjusted Trial Balance December 31 20XX Debit ($) Credit ($) Cash Accounts receivable... Teaching supplies.. 26,000 7,500 2,600 Prepaid insurance.. 12,000 Prepaid rent. 0 Professional library. 30,000 Accumulated depreciation-Professional library. 15,000 Equipment 70,000 Accumulated depreciation-Equipment... 28,000 Accounts payable 36,000 Salaries payable 400 Unearned training fees 6,600 Common stock...... 10,000 Retained earnings. 53,600 Dividends... 40,000 Tuition fees earned. 109,500 Training fees eamed. 42,400 Depreciation expense-Professional library 6,000 Depreciation expense-Equipment. 12,000 Salaries expense 48,400 Insurance expense 3,000 Rent expense..... 24,000 Teaching supplies expense 7,400 Advertising expense Utilities expense.... 7,000 5,600 Totals $301,500 $301,500