On January 31, 2013, the general ledger of Herron Company showed the following account balances. Prepare the worksheet through the Adjusted Trial Balance section. Assume that every account has the normal debit or credit balance. The worksheet covers the month of January.
ACCOUNTS
Cash .................................................62000
Accounts Receivable ..............................21500
Supplies ..............................................8000
Prepaid Insurance ...................................7200
Equipment ..........................................95000
Accum. Depr.-Equip. ..................................0
Accounts Payable .................................15700
Alfred Herron, Capital ...........................80950
Fees Income ......................................112000
Depreciation Exp.-Equip. ............................0
Insurance Expense .......................................0
Rent Expense ........................................9600
Salaries Expense ....................................9850
Supplies Expense ........................................0
Additional information:
a. Supplies used during January totaled $5,200.
b. Expired insurance totaled $ 1,800.
c. Depreciation expense for the month was $ 1,575.