TB Problem 4-228 (Algo) Garvey Company's unadjusted trial balance includes... Garvey Company's unadjusted trial balance...
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Accounting
TB Problem 4-228 (Algo) Garvey Company's unadjusted trial balance includes... Garvey Company's unadjusted trial balance includes the following account balances as of December 31,2022 : The following data are avallable to determine adjusting entries: A) Insurance purchased at the beginning of July for $8,750 provided coverage for tweive months (July 2022 through June 2023 ). The insurance coverage for July through December totaling $4,375 has now been used. B) The comoanv estimates $8.200 in deoreciation each vear. A) lnsurance purchased at the beginning of July for $8.750 provided coverage for twelve months (July 2022 through June 2023 ). The Insurance coverage for July through December totaling $4,375 has now been used. B) The company estimates $8.200 in depreciation each yeat. C) A count showed $86,200 of supplies on hand at the end of the year. D) An additional $270 of Interest has been eamed but has not yet been uncollected on the outstanding notes recelvable. E) Services in the amount of $5,650 were performed for customers who had previously pald in advance. A) Services in the amount of $2,100 were performed; these services have not yet been billed or recorded. Required: o. Prepare the adjusting entries that are required at the end of the period. b. Prepare an adjusted trial balance by completing the related columns in the table below. repare the adjusting entries that are required at the end of the period. (If no entry is required for a transaction/event, select "No lournal Entry Required" in the first account field.) Journal entry worksheet 23456 Record the adjusting entry for insurance expense expired during the period. Note: Enter debits before credits




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