Selected amounts from Trent Company 's trial balance of 12 31 14 appear below 1 Accounts Payable $122,750 2 Accounts Receivable 145,840 3 Accumulated Depreciation Equipment 213,250 4 Allowance for Doubtful Accounts 17,500 5 Bonds Payable 493,800 6 Cash 144,700 7 Common Stock 60,000 8 Equipment 1,00...

Adjusting Journal Entries Debit Depreciation 67190 100785015 Credit Accumu ...

Selected amounts from Trent Company's trial balance of 12/31/14 appear below: 1. Accounts Payable $122,750 2. Accounts

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Selected amounts from Trent Company's trial balance of 12/31/14 appear below:
1. Accounts Payable $122,750
2. Accounts Receivable 145,840
3. Accumulated Depreciation-Equipment 213,250
4. Allowance for Doubtful Accounts 17,500
5. Bonds Payable 493,800
6. Cash 144,700
7. Common Stock 60,000
8. Equipment 1,007,850
9. Prepaid Insurance 30,350
10. Interest Expense 10,200
11. Inventory 308,400
12. Notes Payable (due 6/1/15) 181,900
13. Prepaid Rent 203,580
14. Retained Earnings 812,100
15. Salaries and Wages Expense 322,200 (All of the above accounts have their standard or normal debit or credit balance.)
Prepare to adjust journal entries at year-end, December 31, 2014, based on the following supplemental information. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
a. The equipment has a useful life of 15 years with no salvage value. (Straight-line method being used.)
b. Interest accrued on the bonds payable is $14,814 as of 12/31/14.
c. Prepaid insurance at 12/31/14 is $27,200.
d. The rent payment of $203,580 covered the six months from November 30, 2014, through May 31, 2015.
e. Salaries and wages earned but unpaid at 12/31/14, $22,750.