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Good Note Company specializes in the repair of music equipment and is owned and operated by Robin Stahl. On November 30, 2016, the end of the current year, the accountant for Good Note Company prepared an unadjusted trial balance and an adjusted trial balance.
Good Note CompanyUNADJUSTED TRIAL BALANCENovember 30, 2016
ACCOUNT TITLE
DEBIT
CREDIT
1
Cash
38,080.00
2
Accounts Receivable
90,280.00
3
Supplies
11,100.00
4
Prepaid Insurance
14,720.00
5
Equipment
290,735.00
6
Accumulated Depreciation-Equipment
94,385.00
7
Automobiles
128,730.00
8
Accumulated Depreciation-Automobiles
54,060.00
9
Accounts Payable
25,760.00
10
Salaries Payable
11
Unearned Service Fees
17,410.00
12
Common Stock
109,000.00
13
Retained Earnings
212,035.00
14
Dividends
74,980.00
15
Service Fees Earned
739,500.00
16
Salaries Expense
518,000.00
17
Rent Expense
54,365.00
18
Supplies Expense
19
Depreciation Expense-Equipment
20
Depreciation Expense-Automobiles
21
Utilities Expense
12,615.00
22
Taxes Expense
7,790.00
23
Insurance Expense
24
Miscellaneous Expense
10,755.00
25
Totals
1,252,150.00
Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry. Refer to the Chart of Accounts for exact wording of account titles.
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