The following is Oriole Cycle Repair Shop's trial balance at January 31, 2021, the companys fiscal year end:

ORIOLE CYCLE REPAIR SHOP Trial Balance January 31, 2021

Debit

Credit

Cash $3,800

Accounts receivable 6,660

Prepaid insurance 6,420

Supplies 5,240

Land 58,000

Building 190,000

Accumulated depreciationbuilding $11,000

Equipment 27,000

Accumulated depreciationequipment 4,500

Accounts payable 7,400

Unearned revenue 21,980

Mortgage payable 182,600

H. Dude, capital 61,000

H. Dude, drawings 93,100

Service revenue 243,550

Salaries expense 123,200

Utilities expense 12,000

Interest expense 6,610

$532,030 $532,030

Additional information:

1. The 12-month insurance policy was purchased on June 1, 2020.

2. A physical count of supplies shows $1,310 on hand on January 31, 2021.

3. The building has an estimated useful life of 50 years. The equipment has an estimated useful life of 9 years.

4. The mortgage payable has a 6% interest rate. Interest is paid on the first day of each month for the previous month's interest.

5. By January 31, 2021, $1,300 of services related to the unearned revenue have been provided.

6. During the next fiscal year, $4,500 of the mortgage payable is to be paid.

Prepare the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 125.)

Date

Account Titles and Explanation

Debit

Credit

Jan. 31

(To record insurance expired)

Jan. 31

(To record supplies used)

Jan. 31

(To record depreciation)

Jan. 31

(To record accrued interest)

Jan. 31

Accumulated Depreciation - BuildingAccumulated Depreciation - EquipmentDepreciation ExpenseInsurance ExpenseInterest PayableInterest ExpenseNo EntryPrepaid InsuranceSuppliesSupplies ExpenseService RevenueUnearned Revenue

Accumulated Depreciation - BuildingAccumulated Depreciation - EquipmentDepreciation ExpenseInsurance ExpenseInterest PayableInterest ExpenseNo EntryPrepaid InsuranceSuppliesSupplies ExpenseService RevenueUnearned Revenue

(To record revenue for services provided)

Question Part Score

--/12

Prepare an adjusted trial balance. (Round answers to 0 decimal places, e.g. 125.)

ORIOLE CYCLE REPAIR SHOP Adjusted Trial Balance January 31, 2021Month Ended January 31, 2021Year Ended January 31, 2021

Debit

Credit

Accounts ReceivableAccounts PayableAccumulated Depreciation - BuildingAccumulated Depreciation - EquipmentBuildingCashDepreciation ExpenseEquipmentH. Dude, CapitalH. Dude, DrawingsInterest PayableInsurance ExpenseInterest ExpenseLandMortgage PayablePrepaid InsuranceSuppliesService RevenueSalaries ExpenseSupplies ExpenseUtilities ExpenseUnearned Revenue

$

$

accounts PayableAccumulated Depreciation - BuildingAccumulated Depreciation - EquipmentBuildingCashDepreciation ExpenseEquipmentH. Dude, CapitalH. Dude, DrawingsInterest PayableInsurance ExpenseInterest ExpenseLandMortgage PayablePrepaid InsuranceSuppliesService RevenueSalaries ExpenseSupplies ExpenseUtilities ExpenseUnearned Revenue

Total

$

$

Question Part Score

--/4

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