Problem 1 - Adjusting Entries       Required:                 The following data are taken from an unadjusted trial balance at December 31, 2020 for Boston Company.                                                     Boston Company       Selected Accounts from Unadjusted Trial Balance as of December 31, 2020       Account       Debit Credit       Cash       25,000         Supplies       1,200         Prepaid Rent       1,800         Equipment       9,000         Accumulated Depreciation - Equipment         4,000       Accounts Payable         12,000       Salary Payable         -       Income Taxes Payable         -       Unearned Revenue         5,000                         Adjustments needed for:                 a. Supplies on hand at the end of the month, $500                 b. The prepaid rent is for the 3 months starting on December 1, 2020                 c. Depreciation on the equipment for the end of year, $1,000                 d. Salaries owed for the last three days of the year, $1,500                 e. Half of the unearned revenue has been earned by the end of the year                 f. Estimated income taxes due for 2020, $9,000                     General Journal           Date Account   Debit   Credit                         a.                                               b.                                               c.                                               d.                                               e.                                               f.

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January 2020 the following trial balance was extracted from the books of Yusiti Credit RM Particulars Debit RM Capital 1 February 2019 Vehicles at cost 101,430 Equipment at cost Purchases and sales 35,000 80,000 284,680 503,520 Provision for depreciation at 1 February 2019: Vehicles 21,000 35,000 650 Equipment Return inward and return outwards 1,340 Finance expenses Stock at 1 February 2019 Vehicles expenses Rent, rates and insurance Office expenses Drawings Petty cash Wages and salaries Bad debts Debtors and creditors Cash at bank 1,220 25,570 4,930 7,420 21,940 23,550 200 95,370 1,240 83,210 14,880 680,550 680,550 18,950 ТОTAL dditional information as at 31 January 2020: RM No. Particulars i. Stock valued at Insurance prepaid iii. Goods taken from stock for own use iv. Wages due Provision for doubtful debt required vj. Provision for depreciation is to be provided as follows: 29,750 C 340 i. 420 2,4009 620 C V. 30% straight line method reducing balance method Vehicles 25% Equipment

bled: Assignment 1 i Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $142,500 and sales of $1,115,000. If uncollectible accounts are estimated to be 0.9% of sales, what is the amount of the bad debts expense adjusting entry? Multiple Choice $10,035 $8,990 $11,080

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