Question

need help filling out this ledger correctly given the inputs at the top please.

Brief Exercise 4-02 The ledger of Ivanhoe Company includes the following unadjusted balances: Prepaid Insurance $4,200, Service Revenue $57,700, and Salaries and Wages Expense $26,700. Adjusting entries are required for (a) expired insurance $1,200, (b) services performed $1,200 are billed and not yet collected, and (c) accrued salaries payable $900. Enter the unadjusted balances and adjustments into a worksheet and complete the worksheet for all accounts. Trial Balance LENTZ COMPANY Worksheet Adjustments Adjusted Trial Balance Dr. cr. Income Statement Dr. cr. Balance Sheet Dr. Cr. Account Titles Cr. Prepaid Insurance Service Revenue Salaries and Wages Expense Accounts Receivable Salaries and Wages Payable Insurance Expense Click if you would like to Show Work for this question: Open Show Work LINK TO TEKT

Answer 1

			Worksheet
					Trial balance		Adjustments		Adjusted trial balance		Income statement		Balance sheet
Account titles					Dr.	Cr.	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Prepaid insurance					4200			1200	3000				3000
Service revenue						7700		1200		8900		8900
Salaries and wages expense					26700		900		27600		27600
Accounts receivable							1200		1200				1200
Salaries and wages payable								900		900				900
Insurance expense							1200		1200		1200
Adjusting entries:
1	Account titles and explanation					Debit	Credit
Dec 31.	Insurance expense					1200
	Prepaid insurance						1200
	(Insurance expired)
Dec 31.	Accounts receivable					1200
	Service revenue						1200
	(Service preformed on account)
Dec 31.	Salaries and wages expense					900
	Salaries and wages payable						900
	(Salaries accrued)