The unadjusted trial balance for GLP Corporation appears on the next page.
End-of-period analysis revealed the following:
a. The market value of equipment had decreased by 30 percent of its original cost. Depreciation for the quarter totaled $1,000.
b. The note payable was signed on August 1, 20x4. Its interest rate was 10 percent, and no interest had been recorded since the signing.
c. Unpaid employee wages at September 30 totaled $1,000.
d. Deferred fees represented a consulting contract signed at the beginning of September. The contract€™s duration is three months, and the work is spread evenly throughout the contract period.
e. Supplies on hand totaled $150.
f. The market value of capital stock had increased by 15 percent.
g. Actual bad debt write-offs during September were $300; 1 percent of sales will likely become uncollectible in the coming period.

Prepare the required adjusting entries based on the preceding information. Then, prepare an adjusted trial balance.

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GLP CORPORATION Trial Balance September 30, 20x4 Debit Credit Cash Accounts receivable Allowance for bad debts Inventory Supplies Equipment Accumulated depreciation equipment Accounts payable Notes payable Deferred fees Capital stock Additional paid-in capital Retained earnings S 6,000 2,500 S 200 4,500 800 15,000 10,000 1,200 6,000 7,000 8,000 11,000 16,000 Cost of goods sold Advertising expense Wages expense Miscellaneous expense 13,500 5,000 12,000 1,000 S60,300 Totals $60,300