The trial balance of Skysong Wholesale Company contained the following accounts shown at December 31, the end of the companys fiscal year.

Skysong Wholesale Company

Trail Balance

December

Debit

Credit

Cash

$31,100

Accounts Receivable

38,900

Inventory

71,800

Land

91,300

Buildings

199,300

Accumulated Deprecation-buildings

$59,300

Equipment

82,800

Accumulated Depreciation-equipment

39,800

Notes Payable

54,000

Accounts Payable

16,800

Common Stock

159,300

Retained Earnings

66,500

Dividends

9,300

Sales Revenue

921,400

Sales Discounts

5,300

Cost of goods sold

709,200

Salaries and Wages Expense

50,600

Utilities Expense

10,700

Maintenance and Repairs Expense

8,200

Advertising Expense

4,500

Insurance Expense

4,100

$1,317,100

$1,317,100

Adjustment data:

1. Depreciation is $7,300 on buildings and $6,300 on equipment. (Both are operating expenses).

2. Interest of $3,800 is due and unpaid on notes payable at December 31.

3. Income tax due and unpaid at December 31 is $23,300.

Other data: $14,300 of the notes payable are payable next year.

Journalist the adjusting entires.

Create a T-account for all accounts used in part a.Enter the trial balance into the T-account and post the adjusting entries.