Problem
The trial balances before and after adjustment for Cullumber Company at October 31, 2017, which is the end of its fiscal year, are as follows:
|
Before Adjustment
|
After Adjustment
|
|
Debit
|
Credit
|
Debit
|
Credit
|
|
Cash
|
$9,220
|
|
$9,220
|
|
|
Accounts receivable
|
8,775
|
|
9,340
|
|
|
Supplies
|
2,475
|
|
730
|
|
|
Prepaid insurance
|
3,775
|
|
2,575
|
|
|
Equipment
|
34,490
|
|
34,490
|
|
|
Accumulated depreciation-equipment
|
|
$3,450
|
|
$5,730
|
|
Accounts payable
|
|
5,760
|
|
5,760
|
|
Notes payable
|
|
38,875
|
|
38,875
|
|
Salaries payable
|
|
0
|
|
1,090
|
|
Interest payable
|
|
0
|
|
410
|
|
Unearned service revenue
|
|
1,465
|
|
695
|
|
Cullumber, capital
|
|
5,760
|
|
5,760
|
|
Cullumber, drawings
|
10,085
|
|
10,085
|
|
|
Service revenue
|
|
46,825
|
|
48,160
|
|
Depreciation expense
|
0
|
|
2,280
|
|
|
Insurance expense
|
0
|
|
1,200
|
|
|
Interest expense
|
1,230
|
|
1,640
|
|
|
Rent expense
|
14,710
|
|
14,710
|
|
|
Salaries expense
|
17,375
|
|
18,465
|
|
|
Supplies expense
|
0
|
|
1,745
|
|
|
Totals
|
$102,135
|
$102,135
|
$106,480
|
$106,480
|
Prepare the adjusting entries that were made. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)