The trial balance of Morgan€™s Insurance Agency as of September 30, after the firm has completed its first month of operations, is as follows:

Required
1. Record the amounts in the Trial Balance columns of the work sheet.
2. Complete the work sheet by making the following adjustments and lettering each adjustment:
a. Expired or used- up insurance, $ 300.
b. Depreciation expense on office equipment, $ 600.
c. Supplies used, $150.

Transcribed Image Text:

Morgan's Insurance Company Trial Balance September 30,20- Debit 3.337 1,428 487 775 5.146 Account Name Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accounts Payable S. Morgan, Capital S. Morgan, Drawing Commissions Earned Rent Expense Travel Expense Utilities Expense Miscellaneous Expense Credit 1,367 9,528 1,000 2,843 885 388 227 65 13,738 13,738