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The following information is available from the unadjusted trial balance for Fair Trade Coffee Company on December 31, 2022 for the year just ended. a.
The following information is available from the unadjusted trial balance for Fair Trade Coffee Company on December 31, 2022 for the year just ended. a. A coffee machine was purchased January 1, 2022 for $8,600. It is estimated that the coffee machine will have a useful life of 5 years. b. Fair Trade Coffee Company has a balance of $3,600 in uneamed coffee revenues. Of the balance in unearned coffee revenues, $2,200 remained unearned at December 31 c. The opening balance in the store supplies account for this year was $3,700. A total of $6,750 of store supplies were purchased during the year and debited to the store supplies account. A count of the store supplies on December 31, 2022 revealed a balance remaining of $1,400. d. Accrued coffee revenues at year end totaled $3,450. e. Two months of interest had accrued at a rate of 6% per year on a $28,000 note payable. f. The balance in Prepaid Rent represents six months of rent purchased for $4,020 on September 1, 2022. 1 g. The last weekly salary of $1,800 was paid to employees on Friday December 29. Employees are paid based on a five-day work week. Salaries for December 30 and 31 have accrued. REQUIRED: Prepare the adjusting journal entries for the year end December 31, 2022 on the general journal form provided on the Excel Data sheet NOTE: Explanations are NOT required for journal entries
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