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The unadjusted trial balance for a company as of December 31, 2019 appears below. Debit Cash $1,200 Accounts Receivable 900 Prepaid Insurance 900 Supplies 2.000

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The unadjusted trial balance for a company as of December 31, 2019 appears below. Debit Cash $1,200 Accounts Receivable 900 Prepaid Insurance 900 Supplies 2.000 Land 10.000 Office Furniture 4.500 Accounts Payable 900 Uneamed Revenue 1.500 Note Payable 5.500 Common Stock 3.000 Retnined emings 7400 Dividends 1.100 Service Revenues 4.100 Rent Expense 600 Salaries Expense 1200 52100 5240 Additional Information 1. The Company paid $900 for one year insurance policy on July 1, 2019 2. The office furniture was purchased on January 1, 2019 and is expected to have an eye life and se salvage Depreciation for 2019 has not been recorded 3. The neared revenue account was created when the Company was paid $1.500 for services to be rendered Half of the services were rendered on December 1, 2019. 4. The note payable represents a month, loan obtained from The Bank & Trust on October 1, 2019 5. The Company paid $600 on November 1, 2019 as annual for its warehouse. This amount was debited to expense. 6. The Company operates five days per week (M-F) with a weekly payroll of $500. The Company pays its employees every Friday, December 31, 2019 is a Wednesday. These wages have yet to be recorded 7 Supplies on hand at December 31, 2019 had a cost of 5600 The correct adjusting entry for number 4) above includes a: O A. Credit to Interest Expense for $110 B. Debit to Interest Expense for $110 O C. Debit to Interest Payable for $110 O D. Credit to Interest Payable for $290 O E. Debit to Interest Revenue for $290 The correct adjusting entry for number 5) would be O A. Debit to Prepaid Rent for $500 OB. Debit to Rent Expense for $500 OC. Credit to Rent Expense for $100 OD. Debit to Prepaid Rent for $100 O E. Debit to Rent Expense for $100 After adjustment, the balance in the Salary Expense account is: O A. $1,200 OB. $300 O C. $900 OD. $1,500 O E. $0 Net Income after Adjusting entries for the year-ending December 31, 2019 is: O A. $790 OB. $40 O C. $3,250 O D. $590 O E. $2,690

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