Prepare the adjusting entries that were made

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Reference no: EM131795220

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.)

Reference no: EM131795220

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