E3-31A (Learning Objectives 3, 5: Identifying and recording adjusting and closing entries) The unadjusted trial balance and income statement amounts from the December 31 adjusted trial balance of Draper Production Company follow. Draper Production Company Account Unadjusted Trial Balance From the Adjusted Trial Balance Cash 14,800 Prepaid rent 1,000 Equipment 44,000 Accumulated depreciation 3,100 Accounts payable 5,100 Salary payable Unearned service revenue 9,300 Income tax payable Notes payable, long-term 13,000 Common stock 8,500 Retained earnings 14,100 Dividends 1,300 Service revenue 13,600 20,100 Salary expense 4,600 5,100 Rent expense 1,000 1,300 Depreciation expense 400 Income tax expense 1,000 Total 66,700 66,700 7,800 20,100 Requirement 1. Journalize the adjusting and closing entries of Draper Production Company at December 31. There was only one adjustment to Service Revenue.

E3-31A (Learning Objectives 3, 5: Identifying and recording adjusting and closing entries) The unadjusted trial balance and income statement amounts from the December 31 adjusted trial balance of Draper Production Company follow. Draper Production Company Requirement 1. Journalize the adjusting and closing entries of Draper Production Company at December 31. There was only one adjustment to Service Revenue