prepare the adjusting entries 581555

The adjustments columns of the worksheet for Mears Company are shown below.

Adjustments

Account Titles

Debit

Accounts Receivable

600

400

Prepaid Insurance

900

Accumulated Depreciation

500

Salaries Payable

600

Service Revenue

400

Salaries Expense

500

Insurance Expense

400

Depreciation Expense

900

2,400

2,400

Instructions

(a) Prepare the adjusting entries.

(b) Assuming the adjusted trial balance amount for each account is normal, indicate the financial statement column to which each balance should be extended.