Exercise 3-9

The trial balance for Pioneer Advertising Agency is shown in Illustration 3-3, p. 100. In lieu of the adjusting entries shown in the text at October 31, assume the following adjustment data.

1. Advertising supplies on hand at October 31 total $500.

2. Expired insurance for the month is $100.

3. Depreciation for the month is $50.

4. Unearned revenue earned in October totals $600.

5. Services provided but not recorded at October 31 are $300.

6. Interest accrued at October 31 is $70.

7. Accrued salaries at October 31 are $1,500.

Instructions

Prepare the adjusting entries for the items above.

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