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Trial balance/adjusting entries Notet none of the below adlustmentyfreneactions hwe been reserded. Thoy are Nor reflected in the above tidal balance. Youll need to add
Trial balance/adjusting entries
Notet none of the below adlustmentyfreneactions hwe been reserded. Thoy are Nor reflected in the above tidal balance. Youll need to add some eccountes as you record the adjustmenta/transections belowe 2. Provided 512,500 of the sendies related to the uneamed revenue rellected in the trial balance. Record the adjustment. 2. Senvices performed for cllents that were not recorded by December 31, $52,300. Record the acerued revenue. 3. Ead debt expense for the year is estmated at 52,500 . Record bad debt expense. 4. The prepald insurance balance of $2200 reflects 11 months insurance and was pald on shly ist of thls year. Record the adjustment for the explred hasurane. 5. Equlpment has a 20 year useful life and salvage valve of $5,000. Record depreclation expense using the straight-line method (record for the whele year). 6. The company took out a loen from the bank (that transection was already recorded. At was a 240. dxy,7i note for $60,000 taken out on November 1, 2020. Record the accrued Interest expense for the months of November and December. 7. fent on the edministratve oflices bulliding is $4,000 per month. The company pald for 4 mentth rent on October 2, 2020 (thils entry wes elresdy reeended es prepald renth . Record the used portion ef erspald rent ot December 31,2020 Step by Step Solution
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