1. The unadjusted trial balance for PS Music as of July 31, 20Y5 is as follows:

   PS Music Unadjusted Trial Balance July 31, 20Y5
   	Account No.	Debit Balances	Credit Balances
   Cash	11	9,945
   Accounts Receivable	12	2,750
   Supplies	14	1,020
   Prepaid Insurance	15	2,700
   Office Equipment	17	7,500
   Accounts Payable	21		8,350
   Unearned Revenue	23		7,200
   Common Stock	31		9,000
   Dividends	33	1,750
   Fees Earned	41		16,200
   Wages Expense	50	2,800
   Office Rent Expense	51	2,550
   Equipment Rent Expense	52	1,375
   Utilities Expense	53	1,215
   Music Expense	54	3,610
   Advertising Expense	55	1,500
   Supplies Expense	56	180
   Miscellaneous Expense	59	1,855
   		40,750	40,750

   Based on those balances and the additional data below, prepare adjusting journal entries. Include Posting References, using the account numbers in your spreadsheet. You will need the following additional accounts:

   Account #	Account Name
   18	Accumulated Depreciation-Office Equipment
   22	Wages Payable
   57	Insurance Expense
   58	Depreciation Expense

   The data needed to determine adjustments for the two-month period ending July 31, 20Y5, are as follows:

   July 31: During July, PS Music provided guest disc jockeys for KXMD for a total of 115 hours. The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600, which PS Music has already received payment for. Any additional hours beyond 80 will be billed to KXMD at $40 per hour.

   Account	Post. Ref.	Debit	Credit
   	fill in the blank 2	fill in the blank 3	fill in the blank 4
   	fill in the blank 6	fill in the blank 7	fill in the blank 8

   July 31: Supplies on hand at July 31, $275.

   Account	Post. Ref.	Debit	Credit
   	fill in the blank 10	fill in the blank 11	fill in the blank 12
   	fill in the blank 14	fill in the blank 15	fill in the blank 16

   July 31: The balance of the prepaid insurance account relates to the following July 1, 20Y5 transaction: "Paid a premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period."

   Account	Post. Ref.	Debit	Credit
   	fill in the blank 18	fill in the blank 19	fill in the blank 20
   	fill in the blank 22	fill in the blank 23	fill in the blank 24

   July 31: Depreciation of the office equipment is $50.

   Account	Post. Ref.	Debit	Credit
   	fill in the blank 26	fill in the blank 27	fill in the blank 28
   	fill in the blank 30	fill in the blank 31	fill in the blank 32

   July 31: The balance of the unearned revenue account relates to the contract between PS Music and KXMD, described in the July 3, 20Y5 transaction, which included the following: "On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months. The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600." In accordance with the contract, Peyton received $7,200 from KXMD as an advance payment for the first two months.

   Account	Post. Ref.	Debit	Credit
   	fill in the blank 34	fill in the blank 35	fill in the blank 36
   	fill in the blank 38	fill in the blank 39	fill in the blank 40

   July 31: Accrued wages as of July 31 were $140.

   Account	Post. Ref.	Debit	Credit
   	fill in the blank 42	fill in the blank 43	fill in the blank 44
   	fill in the blank 46	fill in the blank 47	fill in the blank 48