Sample midterm exam with solution QUFSTION TWO The following is the unadjusted trial balance for ABC Manufacturing Inc. as prepared for December 31, 2019, its fiscal year end. ABC Manufacturing and Consulting Inc. Unadjusted Trial Balance as at December 31,2019 Required The following supplementary information has become available afler the unadjusted trial balanee was prepared. Prepare any adjusting journal entries necessary to record each of the following pieces of information and bring Springer's accounts up to date on December 31, 2019. If no additional journal entry is needed, write "No Journal Fntry Required." Springer follows the acerual basis of accounting. a. During December, ABC's accountant had recorded the $500 collection of cash from a credit customer with a debit to Sales revenue and a credit to Accounts Payable. b. According to a physical count taken at December 31,ABC had $39,600 supplies inventory on hand