The unadjusted trial balance for Smith Electronics Company follows:

Requirements
1. Journalize the adjusting entries using the following data:
a. Interest revenue accrued, $ 500.
b. Salaries (Selling) accrued, $ 3,400.
c. Depreciation expense—Equipment (Administrative), $ 1,620.
d. Interest expense accrued $ 1,200.
e. A physical count of inventory was completed. The ending Merchandise Inventory should have a balance of $ 44,800.
2. Prepare Smith Electronics’ adjusted trial balance as of October 31, 2015.
3. Prepare Smith Electronics’ multi-step income statement for year ended October 31, 2015.
4. Prepare Smith Electronics’ statement of retained earnings for year ended October 31, 2015.
5. Prepare Smith Electronics’ classified balance sheet in report form as of October 31,2015.

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SMITH ELECTRONICS COMPANY Unadjusted Trial Balance October 31, 2015 Balance Debit Account Title Cash Accounts Receivable Interest Receivable Merchandise Irventory Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Interest Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Eamings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts Interest Revenue Cost of Goods Sold Salaries Expense (Selling) Rent Expense (Selling) Salaries Expense (Administrative) Utilities Expense (Administrative) Deprediation Expense Equipment (Administrative) Interest Expense Total Credit 4,320 33,900 45,400 6,300 130,900 38,100 16,900 13,800 47,000 25,000 27,500 19,000 296,500 8,100 2,700 162,100 22,500 15,000 4,860 9,720 $ 464,800 $464,800