A Account Name 101 Cash 121 Accounts receivable 130 Supplies 140 Prepaid insurance 150 Equipment 155 Accumulated depreciation -Equipment 202 Accounts payable 301 Jeff Jessup, Capital 302 Jeff Jessup, Drawing 402 Fees income 502 Office Supplies 503 Rent expense 504 Salaries expense 505 Supplies expense 506 Insurance expense 507 Utilities expense 508 Depreciation expense-Equipment Adjustment information: Balance $ $ $ $ $ A 5,500 2,225 1,500 4,200 8,000 $ 3,125 $ 18,025 $ 2,500 $ 7,500 $ 425 $ $ [[[[ The balances of the ledger accounts for Jessup Services on December 31, 2022, and the information needed for adjustments are shown below. 1,250 2,500 D $ 550 E 5 F G Prepare the Preliminary trial Balance section, record the adjustments, and complete the worksheet. x Enter text or formula here Q H I A. The supplies were purchased on December 1, 2022. An inventory of supplies showed $600 on hand on December 31, 2022. B. The amount of Prepaid Insurance represents a payment made December 1, 2022, for a six-month insurance policy. C. The equipment, purchased December 1, 2022, has an estimated useful life of 5 years with no salvage value. The firm uses the straight-line method of depreciation. L M
