The trial balance of Sigma Corporation contained the following accounts at June 30, 2022, the end of the company's fscal year Sigma Corporation Trial Balance June 30, 2022 Debit Credit Cash $32,600 Accounts Receivable 20 200 Allowance for Doubtful Accounts $ 1,700 Notes Receivable 14,500 Merchandise Inventory 41,400 Store Supplies 9,100 Prepaid Insurance 11,500 Store Equipment 85,000 Accumulated Depreciation - Store Equipment 20,000 Delivery Equipment 48,000 Accumulated Depreciation - Delivery Equipment 8,000 Notes Payable 59,800 Accounts Payable 44,500 Share Capital - Ordinary 95,000 Retained Earnings 35,500 Dividends 24,300 Sales 764,300 Sales Returns and Allowances 5.200 Cost of Goods Sold 488,000 Salaries Expense 148.000 Advertising Expense 26.400 Utilities Expense 14,000 Repair Expense 12.100 Delivery Expense 16,700 Rent Expense 28,000 Interest Expense 3,800 Totals $1028,800 $1,029,800 Page 1 of 3 Instructions 1- Prepare the adjusting entries for these accounts Store Supplies (Supplies expense Accumulated Deprecation - Store Equipment Accumulated Depreciation - Delivery Equipment Allowance for doubtful accounts (Bad debt expenset - Nole receivable (Interest revenue) Note payable (Interest experie) - Salanes expense Insurance Expense -COGS 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 in order to adjust the accounts. Those assumptions should be in consistency with your trial balance. Example The trial balance is showing the following balance for "Store Supplies": Dr Cr Store Supplies 9,100 Your assumption could be formulated as follows: 1. Store Supplies: An inventory count at the end of the year reveals that $2,100 of supplies are still on hand. So the cost of supplies used = 9,100-2,100=7,000 Adjusting entry for supplies: Dr. Supplies Expense 7,000 Cr: Store Supplies 7,000