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Sutton Inc, a small service companv1 keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted

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Sutton Inc, a small service companv1 keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as at the end of the company's scal vear, December 31: 5101?: Account Tres Debit Credit lDash $ 24,000 Accounts receivable 10,025 Service supplies inventorv 2,000 Prepaid insurance 1,4?5 Service trucks 35,500 Accumulated depreciation, service bucks Eli 1?,500 lDther assets 5,500 Accounts pavable 4,500 Note pavable {three 1,rears; 0% each December 31] 10500 Contributed capital {5,400 shares outstanding} 1?,200 Retained earnings 11,000 Service revenue 55,000 lEither expenses, excluding income tax 31,500 Totals $116,000 $116,000 Data not vet recorded at December 31, 201?, Itlvere as follows: a. Supplies inventorv on December 31, 201?, reecting $15110 remaining on hand. b. Insurance expired during 201?, $500. c. Depreciation expense for 201?, $4.400. d. Wages eamed bv employees not vet paid on December 31, 201?. $1,500. e. Income tax expense, $3,650

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