Task: Journal Entry Adjustments - Al Gerome's Services Example
Please adjust the following entries:
Data for the year-end adjustments for Al Gerome's Courier Services are as follows:
1). Insurance expired during the year ($950.00)
2). Depreciation of equipment for the year ($9,860.00)
3). Salaries accrued at December 31 ($5,100.00)
4). Supplies used and not recorded against Supplies account ($1,500)
5). Unbilled services already performed for $15,000 at the end of year
Instructions:
Prepare the necessary adjusting entries for Al Gerome's Services at the end of the period using the form provided.