Question Content Area

Reconstruct the adjusting and closing entries from the following T$-$accounts:

Prepaid Insurance Accounts Receivable Unearned Revenue Wages Payable

$1,2006,0001,350530$

$2001,500435530$

$1,0007,500915$

Madison Cox, Capital Madison Cox, Drawing Fees Earned

$7,0002,1008,000$

$5,2802,1001,500$

$2,10009,935435$

$10,1800$

Wages Expense Rent Expense Insurance Expense Utilities Expense

$2,6001,145200180$

$5301,145200180$

$3,130000$

$0$

If an amount box does not require an entry, leave it blank.

Question Content Area

Adjusting Entries:

$($a$)$

Insurance Expense

$200$

Prepaid Insurance

$200$

$($b$)$

Accounts Receivable

$1,500$

Fees Earned

$1,500$

$($c$)$

Unearned Revenue

$435$

Fees Earned

$435$

$($d$)$

Wages Expense

$530$

Wages Payable

$530$

Question Content Area

Closing Entries:

$($a$)$

Fees Earned

Wages Payable

$($b$)$