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The unadjusted trial balance of Sketch Star Makers Incorporated, prepared as of December 31, 2022, includes the following account balances. All of the accounts listed
The unadjusted trial balance of Sketch Star Makers Incorporated, prepared as of December 31, 2022, includes the following account balances. All of the accounts listed have normal balances. Cash $ 19,500 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation 3,900 4,800 8,600 29,000 3,900 Notes Payable (long-term) 39,000 Deferred Revenue 14,500 Service Revenue 49,000 Salaries and Wages Expense 39,500 The following information is also available: A) After a count of supplies, there were $2,300 worth of supplies remaining on hand at December 31, 2022. B) An insurance policy, purchased on January 1, 2022, covers five years. C) The equipment depreciates at a rate of $2,900 per year; no depreciation has been recorded for 2022. D) One half (or 50%) of the amount recorded as Deferred Revenue remains deferred as of December 31, 2022. E) The accrued amount of salaries and wages at December 31, 2022 is $3,900. Required: Prepare the required adjustments for the company as of December 31, 2022. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 5
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