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Problem 2: This company's fiscal year is the calendar year. For the following data, it is advisable to set up a "T"- account for each item, with a beginning amount, an ending amount, and any "during the year activity that takes place.....then, determine the "missing" adjusting entry. In other words, with this starting amount, this ending amount, and the stuff that happens in between, what adjusting entry do I need to take me to the correct ending figure? a) Allowance for Doubtful Accounts on January 1, 2019 was $50,000. The balance in the allowance account on December 31, 2019. after making the annual adjustment was $50,000 During the year just ended, bad debts written off amounted to $30,000. What is the missing adjusting entry? Unearned Rent at January 1, 2019 was $5,300 and at December 31, 2012 was $6,000. The records indicate cash receipts from rental sources during the year amounted to $40,000, all of which was credited to the Unearned Rent account You are to prepare the missing adjusting entry Accumulated Depreciation-Equipment at January 1, 2019 was $230,000. At December 31, 2019 it was $280,000. During the year, one piece of equipment was sold. The equipment had an original cost of $40,000 and was 4 (75%) depreciated when sold. Prepare the missing adjusting journal entry

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