Valero Sales Company's unadjusted and adjusted trial balances at December 31, 20X7, are given on the next page.
Required
1. Make the adjusting entries that account for the differences between the two trial balances.
2. Compute Valero's total assets, total liabilities, total equity, and net income.

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Valero Sales Company Adjusted Trial Balance December 31, 20X?7 Trial Balance Adjusted Trial Balan ce Account Title Debit Credit Debit Credit 4,100 11,200 1,000 2,600 21,600 4 Accounts receivable Supplies Prepaid insurance Office furniture Accumulated depreciation Accounts payable Salary payable Interest pa yable Note payable Unearned commission revenue Common stock Retained earnings Dividends Sales commission revenue Depreciation expense Supplies expense Utilities expense Salary expense Rent expense Interest expense Insurance e 12,400 700 21,600 8,200 6,300 9,300 6,300 6,000 1,500 5,000 3,500 400 6,000 1,100 5,000 3,500 18,300 18,300 72,800 74,400 4,900 26,600 12,200 800 1,100 300 4,900 27,500 12,200 1,200 1,700 xpense 103,300 103,300 106,900106,900