The following are account balances of Graham Corporation:

Required:
1. Enter the unadjusted balance for each account in the following Taccounts: Interest Receivable, Prepaid Insurance, Interest Payable, Salaries Payable, Unearned Rent, Interest Earned, Rent Earned, Insurance Expense, Interest Expenses, and Salaries Expense.
2. Reconstruct the adjusting entry that must have been recorded for each account. General ledger account numbers are not necessary.
3. Post these adjusting entries and agree ending balances in each Taccount to the adjusted balances above.
4. List revenue and expense amounts for the period.

Transcribed Image Text:

Amount i Amount in unadjusted trial balance adjusted trial balance Account Rent Receivable Prepaid Insurance Interest Payable $110 600 90 1,800