The unadjusted trial balance for Taylor Electronics Company follows:

Requirements
1. Journalize the adjusting entries using the following data:
a. Interest revenue accrued $ 200.
b. Salaries (Selling) accrued, $ 2,700.
c. Depreciation expense—Equipment (Administrative), $ 1,670.
d. Interest expense accrued $ 1,200.
e. A physical count of inventory was completed. The ending Merchandise Inventory should have a balance of $ 44,500.
2. Prepare Taylor Electronics’ adjusted trial balance as of March 31, 2015.
3. Prepare Taylor Electronics’ multi-step income statement for year ended March 31, 2015.
4. Prepare Taylor Electronics’ statement of retained earnings for year ended March 31, 2015.
5. Prepare Taylor Electronics’ classified balance sheet in report form as of March 31,2015.

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TAYLOR ELECTRONICS COMPANY Unadjusted Trial Balance March 31, 2015 Balance Debit Account Title Cash Accounts Receivable Interest Receivable Merchandise Inventory Office Supplies Credit S 3,900 33,600 45,100 6,000 129,100 Accumulated Depreciation Equipment Accounts Payable Salaries Payable Interest Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Sales Retums and Allowances Sales Discounts Interest Revenue Cost of Goods Sold Salaries Expense Selling) Rent Expense (Selling) Salaries Expense (Administrative) Utilities Expense (Administrative) Depreciation Expense Equipment (Administrative) Interest Expense Total 37,700 16,700 0 0 13,800 46,000 50,000 2,430 20,000 297,000 7,500 2,900 0 162,300 22,900 15,300 5,010 10,020 $463,630 $463,630