The trial balance of Arnold Corporation contained the following accounts at June 30, 2020, the end of the company's fiscal year. Arnold Corporation Trial Balance June 30, 2020 Debt Credit Cash $28.500 Accounts Receivable 19 200 Allowance for Douetful count Notes Receivable 14500 Merchandise Inventory 41200 Store Supplies 9.100 Prepaid Insurance 15 500 Store Equpment 85.000 Accumulated Depreciation Store Equipment 15 000 Delivery Equment 45.000 Accumulated Depreciation - Delivery Equipment 5000 Notes Pay 55.000 Accounts Payable 44 500 Share Capital - Ordinary 56 000 Retained Fang 35500 Dividends 24 300 Sales Sales Returns and Allowances 5 200 Cost of Goods Sold 488 000 Salaries Expanse 188 000 Advertising Expense 26 400 Unities Expense Repar Expense 52,100 Delivery Expense 16.700 Rent Expense 28 000 Totals $1.620 000 51020 000 Instructions 1- Prepare the adjusting entries for these accounts: - Store supplies (Supplies expense - Accumulated Depreciation - Store Equipment - Accumulated Depreciation - Delivery Equipment - Allowance for doubtful accounts (Bad debt expensel - Note receivable Interest revenue) - Note payable (Interest expense) - Salaries expense - Insurance Expense - COGS You need to set your own assumptions to adjust the accounts. Those assumptions should be in consistency with your trial balance Example Deb CA Cash Account Recible 19 200 Allowing for the Notes 14 500 Merchanty 270 Stor Supplier 9,800 Prepaid in 11 500 Stor Lumen 000 Amated Deprecation Store Eprent 000 Del Esupert EL000 Arounded Deprecation-very game 300 NPM 55.000 Accounts Payable 44500 Share Captain S8600 Rebredag 35500 Dividende 2400 Sie 7430 Sales Returns and Allowances Cost of Goods Sold 488 000 Spense 140 000 Advertising Experte 2600 Les per 14.000 Rent sense 120 Delivery Expense 56700 20.000 Total 1.000.000000 Instructions 1- Prepare the adjusting entries for these accounts: - Store supplies (Supplies expense - Accumulated Depreciation - Store Equipment - Accumulated Depreciation - Delivery Equipment - Allowance for doubtful accounts (Bad debt expense - Note receivable (Interest revenue) - Note payable (Interest expense) - Salaries expense - Insurance Expense - COGS You need to set your own assumptions to adjust the accounts. Those assumptions should be in consistency with your trial balance Example The tal balance in showing the following balance for "Slone Supplies Or Store Supplies 9.100 You assumption could be formed as follows 1 Store Seeles. An inventory court at the end ol the war reveals that 82,100 of sales sonland So the cost of suples used 9,100-2.100-7000 during entry for succes Dr Supplies Expense 7000 Store Supplies 7.000