The unadjusted trial balance of Ashton Air Purification System at December 31, 2016, and the data needed for the adjustments follow. (Click the icon to view the trial balance.) (Click the icon to view the adjusting entry information.) Requirements 1. Joumalize the adjusting entries on December 31. 2. The T-accounts, along with their unadjusted balances have been opened for you. Post the adjusting entries to the T-accounts. 3. Prepare the adjusted trial balance. 4. How will Ashton Air Purification System use the adjusted trial balance? Requirement 1. Journalize the adjusting entries on December 31. (Record debits first, then credits. Select the explanation on the last lin a. On December 15, Ashton contracted to perform services for a client receiving $2,700 in advance. Ashton recorded this receipt of cash completed $1,400 of the services. Data table Requirements 1. Joumalize the adjusting entries on December 31 . 2. The T-accounts, along with their unadjusted balances have been opened for you. Post the adjusting entries to the T-accounts. 3. Prepare the adjusted trial balance. 4. How will Ashton Air Purification System use the adjusted trial balance? More info Adjustment data at December 31 follow: a. On December 15, Ashton contracted to perform services for a client receiving $2,700 in advance. Ashton recorded this receipt of cash as Unearned Revenue. As of December 31. Ashton has completed $1,400 of the services. b. Ashton prepaid two months of rent on December 1. c. Ashton used $400 of office supplies. d. Depreciation for the equipment is $400. e. Ashton received a bill for December's online advertising, $700. Ashton will not pay the bill until January. (Use Accounts Payable.) f. Ashton pays its employees on Monday for the previous week's wages. Its employees earn $3,500 for a five-day workweek. December 31 falls on Wednesday this year. g. On October 1, Ashton agreed to provide a four-month air system check (beginning October 1) for a customer for $1,200. Ashton has completed the system check every month but payment has not yet been received and no entries have been made
