The unadjusted trial balance and adjustment data of

Mildred s Motors #375

The unadjusted trial balance and adjustment data of Mildred’s Motors at December 31, 2016,
follow:Adjustment data at December 31, 2016:a. Depreciation on equipment, $1,900.b. Accrued
Wages Expense, $800.c. Office Supplies on hand, $600.d. Prepaid Insurance expired during
December, $200.e. Unearned Revenue earned during December, $4,000.f. Accrued Service
Revenue, $700.2017 transactions:a. On January 4, Mildreds Motors paid wages of $1,200. Of
this, $800 related to the accrued wages recorded on December 31.b. On January 10, Mildreds
Motors received $1,300 for Service Revenue. Of this, $700 is related to the accrued Service
Revenue recorded on December 31.Requirements1. Journalize adjusting entries.2. Journalize
reversing entries for the appropriate adjusting entries.3. Refer to the 2017 data. Journalize the
cash payment and the cash receipt that occurred in 2017.View Solution:
The unadjusted trial balance and adjustment data of Mildred s Motors

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