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BLUE SPRUCE ENTERPRISES Trial Balance December 31, 2024 \begin{tabular}{lcc} \hline & Debit & Credit \\ \hline Cash & $14,500 \end{tabular} Accounts receivable 19,300 Merchandise inventory 37,450 Prepaid insurance 5,100 Supplies 3,000 Equipment 152,000 Accumulated depreciation-equipment $36,750 Furniture 53,000 Accumulated depreciation-furniture Accounts payable Unearned revenue Mortgage payable 130,000 S. Johnson, capital 34,755 S. Johnson, drawings 41,000 Sales 275,000 Sales returns and allowances Sales discounts 3,305 Cost of goods sold 157,000 Interest expense 7,100 Salaries expense 36,050 Utilities expense \( \frac{5,300}{\$ 537,005} \stackrel{\$ 537,005}{\hdashline} \) 1. There is $790 of supplies on hand on December 31,2024. 2. The one-year insurance policy was purchased on March 1, 2024. 3. Depreciation expense for the year is $10,500 for the equipment and $5,300 for the furniture. 4. Accrued interest expense at December 31,2024 , is $725. 5. Unearned revenue of $965 is still unearned at December 31,2024 . On the amount that was earned, cost of goods sold was $1,740. 6. A physical count of merchandise inventory indicates $32,700 on hand on December 31,2024. 7. Blue Spruce Enterprises uses the perpetual inventory system and the earnings approach. (a) Prepare the adjusting entries assuming they are prepared annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)

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