The trial balance of Winsor Corporation is reproduced on the following page. The information below is relevant to the preparation of adjusting entries needed to both properly match revenues and expenses for the period and reflect the proper balances in the real and nominal accounts.

As the accountant for Winsor Corporation, you are to prepare adjusting entries based on the following data, entering the adjustments on the work sheet and completing the additional columns with respect to the income statement and balance sheet. Carefully key your adjustments and label all items.

(a)		Winsor determined that one percent of sales will become uncollectible.
(b)		Depreciation is computed using the straight-line method, with an ten-year life and $ 1,000 salvage value.
(c)		Salesmen are paid commissions of 15% of sales. Commissions on sales for December have not been paid.
(d)		The note was issued on October 1, bearing interest at 8%, due Feb. 1, 2018.
(e)		A physical inventory of supplies indicated $ 350 of supplies currently in stock.
(f)		Provisions of a lease contract specify payments must be made one month in advance, with monthly payments at $ 790/mo. This provision has been complied with as of Dec. 31, 2017.

Winsor Corporation Work Sheet For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017December 31, 2017
		Trial Balance				Adjustments				Income Statement				Balance Sheet
Accounts		Debit		Credit		Debit		Credit		Debit		Credit		Debit		Credit
Cash		$12,210				$		$		$		$		$		$
Equity Investment		4,220
Accounts Receivable		28,660
Allowance for Doubtful Accounts				$ 380
Inventory		15,590
Supplies		1,070
Equipment		66,120
Accumulated DepreciationEquipment				9,100
Accounts Payable				4,150
Notes Payable				10,100
Common Stock				40,000
Retained Earnings				27,400
Sales Revenue				338,400
Cost of Goods Sold		232,460
Salaries and Wages Expense		21,270
Sales Comm. Exp.		38,660
Rent Expense		7,110
Miscellaneous Expenses		2,160
Totals		$429,530		$429,530
Bad Debt Expense
Depreciation Expense
Sales Com. Exp Pay.
Interest Expense
Interest Payable
Supplies Expense
Prepaid Rent
Totals						$		$
Net Income
Totals										$		$		$		$