The unadjusted and adjusted trial balances for Editorial Services Co. on March 31, 2014, are shown below

The unadjusted and adjusted trial balances for Editorial Services Co. on March 31, 2014, are shown below.


Editorial Services Co. Trial Balances March 31, 2014 Unadjusted Adjusted Debit  Balances Credit Balances Debit  Balances Credit Balances Cash .......................................... 8 8 Accounts Receivable............................ 19 22 Supplies....................................... 6 5 Prepaid Insurance .............................. 10 4 Land .......................................... 13 13 Equipment..................................... 20 20 Accumulated Depreciation—Equipment ......... 4 6 Accounts Payable .............................. 13 13 Wages Payable................................. 0 1 Valerie Nolan, Capital........................... 46 46 Valerie Nolan, Drawing ......................... 4 4 Fees Earned.................................... 37 40 Wages Expense ................................ 12 13 Rent Expense .................................. 4 4 Insurance Expense ............................. 0 6 Utilities Expense ............................... 2 2 Depreciation Expense .......................... 0 2 Supplies Expense............................... 0 1 Miscellaneous Expense ......................... 2 2 100 100 106 106 


Journalize the five entries that adjusted the accounts at March 31, 2014. None of the  accounts were affected by more than one adjusting entry.

Answer:


1. Accounts Receivable 3  Fees Earned  3 Accrued fees earned.    2. Supplies Expense 1  Supplies  1 Supplies used.    3. Insurance Expense 6  Prepaid Insurance  6 Insurance expired.    4. Depreciation Expense 2  Accumulated Depreciation—Equipment  2 Equipment depreciation.    5. Wages Expense 1  Wages Payable  1 Accrued wages.