Unearned revenue	102,860.00
Service revenue		102,860.00
Depreciation and amortization	82,620.00
Accum Depr		82,620.00
Interest expense	7,765.00
Interest payable		7,765.00
Income tax expense	201,109.00
Income tax payable		201,109.00
Retained Earnings	110,000.00
Dividends payable		110,000.00
Bad debt expense	17,508.00
Allowance for doubtful accounts		17,508.00
Wages	33,875.00
Wages payable		33,875.00
Insurance Expense	5,600.00
Prepaid expenses		5,600.00
Gross product sales revenue	128,600.00
Inventory	68,742.00
Product cost of goods sold		128,600.00
Accounts Receivable		68,742.00
Payroll taxes expense	2,710.00
Payroll taxes payable		2,710.00

The following information is provided for adjustments prior to closing the books. Lopez and Knepp ask you to enter the adjustments into the spreadsheet, in the two columns to the right of the unadjusted trial balance. (CM2 uses a perpetual inventory system.) (I am stuck on the adjusted balance sheet) 1. Wages earned by employees during December and to be paid in January are $33,875; associated payroll taxes on these wages are $2,710. 2. On July 1, a client paid CM2 $205,720 in advance for a year of consulting services. 3. You discover that a product sale was made and recorded in December for $128,600; the product had not yet been shipped. The cost of the product was $68,742. 4. Bad debt expense has been calculated to be $17,508 but has not yet been recorded. 5. The Prepaid Expense account has a balance of $22,774. This balance includes $11,200 for a two-year insurance policy purchased on January 1, 2009. 6. Depreciation expense for the year is $82,620. 7. Interest expense accrued on its long-term liabilities is $7,765. 8. On December 15, CM2 declared a dividend of $110,000, to be paid on January 15, 2010. 9. Income tax expense is $201,109. These are my journal entries. I NEED HELP WITH THE ADJUSTED BALANCE SHEET.

This is the unadjusted balance sheet

Balance Sheet Accounts	Debit		Credit
Cash and cash equivalents	72,337
Accounts Receivable	910,680
Allowance for doubtful accounts			84,962
Inventory	1,272,160
Prepaid expenses	22,774
Other Current Assets	16,063
Building	874,418
Equipment and furniture	336,983
Land	348,791
Accum Depr			656,465
Investments	140,186
Goodwill	397,740
Other intangible assets	253,900
Accounts Payable			1,169,343
Dividends payable
Interest payable			5,100
Unearned revenue			205,720
Wages payable			81,350
Payroll taxes payable			8,850
Income tax payable
Long term liabilities			588,500
Common Stock			920,000
Paid-in capital common stock			105,000
Treasury Stock	400,000
Retained Earnings			0
Dividends
Net Income (Loss)			681,673
	5,046,032		4,506,963
Income Statement Accounts
Gross product sales revenue			9,293,346
Service revenue			1,158,785
Product sales returns	162,400
Product sales discounts	269,662
Product cost of goods sold	5,384,590
Service cost of goods sold	570,811
Advertising Expense	163,870
Bad debt expense	0
Depreciation and amortization	64,500
Dues and subscriptions Expense	21,470
Equipment expense	150,781
Gain/loss on disposal	0
Income tax expense	0
Insurance Expense	80,144
Interest expense	45,200
Investment income			13,230
Legal and accounting fees	106,650
Miscellaneous Expense	9,048
Office expense	220,114
Payroll taxes expense	136,975
Property taxes expense	104,570
Repair and maintenance expense	42,028
Research and development Expense	470,680
Telephone Expense	20,085
Travel and entertainment	38,391
Utilities Expense	47,049
Wages	964,670
Wages - Officers	710,000
Net (Income) Loss			(681,673)
	9,783,688		9,783,688