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Question - Sears Editing Company is a small editorial services company owned and operated by Deloris Sears. On January 31, 20Y1, the end of the current year, Sears Editing Company's accounting clerk prepared the following unadjusted trial balance:
Sears Editing Company UNADJUSTED TRIAL BALANCE January 31, 20Y1
ACCOUNT TITLE
DEBIT
CREDIT
1
Cash
7,710.00
2
Accounts Receivable
37,935.00
3
Prepaid Insurance
7,070.00
4
Supplies
2,125.00
5
Land
108,400.00
6
Building
145,300.00
7
Accumulated Depreciation-Building
85,610.00
8
Equipment
134,800.00
9
Accumulated Depreciation-Equipment
96,100.00
10
Accounts Payable
12,625.00
11
Unearned Rent
6,340.00
12
Common Stock
75,495.00
13
Retained Earnings
144,195.00
14
Dividends
15,120.00
15
Fees Earned
323,700.00
16
Salaries and Wages Expense
196,770.00
17
Utilities Expense
42,265.00
18
Advertising Expense
23,135.00
19
Repairs Expense
17,195.00
20
Miscellaneous Expense
6,240.00
21
Totals
744,065.00
Required - Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.
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