The following data is given for Debbie€™s Dance Studio of Vernon:

Adjustment Data
a. Insurance expired, $300
b. Dance supplies on hand, $700
c. Amortization on dance equipment, $500
d. Salaries earned by employees but not to be paid until July, $400
Required
1. Prepare a worksheet.
2. Journalize adjusting and closing entries.

DEBBIE'S DANCE STUDIC TRIAL BALANCE JUNE 30, 2014 Dr. Cr Cash Accounts Receivable 4000000 700000 40000 15 0000 1300000 aid Insurance Dance Supplies Dance Equipment Accumulated Amortization, Dance Equipment Accounts Payable D. Dee, Capital D. Dee, Withdrawals Dance Fees Earned Salaries Expense Telephone Expense Advertising Ex 1190000 2100000 13 20000 80000 1980000 160000 100000 60000 6590000 6590000