The unadjusted trial balance as at the financial year ended Dec 31 and the adjustment data for Harris Training Institute are given below along with adjusting entry information.

Harris Training Institute

Unadjusted Trial Balance

December 31

RM

RM

Cash

58,000

Accounts receivable

59,000

Prepaid insurance

12,000

Equipment

8,000

Accumulated depreciation-equipment

2,000

Buildings

57,500

Accumulated depreciation-buildings

17,500

Land

55,000

Unearned rent

16,000

Long-term notes payable

50,000

Haris, Capital

115,600

Tuition fees earned

74,000

Training fees earned

23,400

Wages expense

32,000

Utilities expense

8,000

Property taxes expense

5,000

Interest expense

4.000

Totals

298,500

298,500

Additional information items:

1. The Prepaid Insurance account consists of a payment for a 1-year policy. An analysis of the insurance invoice indicates that one half of the policy has expired by the end of the December 31 year-end.
2. A cash payment for space sublet for 8 months was received on July 1 and was credited to Unearned Rent.
3. Accrued interest expense on the note payable of RM1,000 has been incurred but not paid.