After preparing the unadjusted trial balance, review the entries to determine what accounts need to be adjusted and prepare the adjusting journal entries. Additional information is below: •A physical count of office supplies noted a balance of $35,270 •A review of the unearned account noted that 30% of the revenue was earned. •After reviewing the A/R aging, management estimated that 10% of the Accounts receivable balance would not be collected. •Building has a useful life of 20 years and a salvage value of $25,000 •Equipment has a useful life of 5 years and a salvage value of 5,000. •Employee’s salaries for the last week of December and not yet paid total $40,350•Services provided but not yet billed totaled $85,000•Utilities Expense incurred but not recorded totaled $7,250 I need help in the adjusting process for 12/31. the picture added in the undjusted trial. I need hel adjusting this info
After preparing the unadjusted
•A physical count of office supplies noted a balance of $35,270
•A review of the unearned account noted that 30% of the revenue was earned.
•After reviewing the A/R aging, management estimated that 10% of the Accounts receivable balance would not be collected.
•Building has a useful life of 20 years and a salvage value of $25,000
•Equipment has a useful life of 5 years and a salvage value of 5,000.
•Employee’s salaries for the last week of December and not yet paid total $40,350•Services provided but not yet billed totaled $85,000•Utilities Expense incurred but not recorded totaled $7,250
I need help in the adjusting process for 12/31. the picture added in the undjusted trial. I need hel adjusting this info
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