Question

please answer parts 2,6,7 ONLY (i do not need 1,3,4,5 solved as i have the solutions and i attached part 1 in the question) please when solving 2,6,7 answer in reference to the other answered parts (very important)

Alla Agency was founded in January 2017. Presented below is the trial balance as of March 31, 2020, the end of the company's fiscal year Afia Agency Trial Balance March 31, 2020 Debit Credit $135,000 Accounts Receivable 97 500 Allowance for Doubtful Accounts Notes Receivable 38.700 Art Supplies 34.700 Prepaid Rent 26,500 Printing Equipment 65,000 Accumulated Depreciation - Printing Equipment 12,000 Building 160.000 Accumulated Depreciation - Building 33,000 Notes Payable 30.800 Accounts Payable 28.500 Uneamed Advertising Revenue 34.800 Share Capital - Ordinary 300,000 Retained Earnings 39.500 Dividends

1-

a) Assuption Made for Adjusting Jounal Entries.
1) Art Supplies on is hand is $4,700
2) Depreciation expense on Building is $11,000 and Printing equipment is $4,000
3) Allowanc for Doubtfule Account for the year is $7,300
4) Interest on Notes Receivable is accrued is $1700.
5) Interest on Note payable is accrued $ 1,500.
6) Salaries unpaid is $10,700.
7) Rent expired is $6,500.
8) Service provided with respect of unearned revenue is $14,800.
Account Tittle	Debit	Credit
Supplies Expense	$                     4,700
Art Supplies		$                4,700
Depreciation Expense	$                    15,000
Accum. Depreciation-Building		$               11,000
Accum. Depreciation-P.Equipment		$                4,000
Bad Debt Expense	$                     7,300
Allowance for doubtful accounts		$                7,300
Interest Receivable	$                     1,700
Interest Revenue		$                1,700
Interest Expense	$                     1,500
Interest Payable		$                1,500
Salaries Expense	$                    10,700
Salaries Payable		$               10,700
Rent Expense	$                     6,500
Prepaid Rent		$                6,500
Unearned Advertising Revene	$                    14,800
Advertising Revenue		$       14,800

Answer 1

As you asked to check. As per my opinion too, Journal Entries for 2,6 & 7 are correct.

Journal Entries
Particulars	Debit	Credit
Interest Revenue A/c	1700
Advertising Revenue A/c (14800 + 278750)	293550
To Income Summary A/c		69500
To Supplies Expense A/c(114300+4700)		119000
To Depreciation Expense A/c		15000
To Bad Debt Expense A/c		7300
To Interest Expense A/c		1500
To Salary Expense A/c		10700
To Rent Expense A/c		6500
To Utility Expenses A/c		22600
To Insurance Expense A/c		16750
To Miscelleneous Expense A/c		26400
(Being Income & Expenses transferred to Income Summary A/c)
Income Summary A/c	69500
To Divident A/c		22200
To Retained Earnings A/c		47300
(Being Net Income transferred to Retained Earnings)

Adjusted Trail balance
			Adjustments		Adjusted
Particulars	Debit	Credit	Debit	Credit	Debit	Credit
Cash	135000				135000
Account Receivable	97500				97500
Art Supplies	34700			4700	30000	4700
Interest Receivable			1700		1700
Prepaid Rent	26500			6500	20000	6500
Notes Receivable	38700				38700
Building	160000				160000
Accu. Dep - Building		33000		11000		44000
Printing Equipment	65000				65000
Accu. Dep - P. Equipment		12000		4000		16000
Share Capital - Ordinary		300000				300000
Retained Earnings		39500		47300		86800
Dividend	22200			22200		22200
Unearned Ad. Revenue		34800	14800		14800	20000
Salaries Payable				10700		10700
Interest Payable				1500		1500
Allowance for Doubtful Debt		2300		7300		9600
Notes Payable		30800				30800
Account Payable		28500				28500
Advertising Revenue		278750	278750		278750
Salaries Expense	114300			114300		114300
Utility Expense	22600			22600		22600
Insurance Expense	16750			16750		16750
Miscelleneoous Expense	26400			26400		26400
	759650	759650	295250	295250	841450	761350