Question CR Gomez Services had completed all of its journal entries for the month of March 2019 and posted them to the general ledger. Based on the ledger balances, an unadjusted trial balance has been prepared. Gomez Services Unadjusted Trial Balance March 31, 2019 Account Titles DR Cash $34,530 Accounts Receivable 59.990 Prepaid Rent $1,680 Equipment $ 14,650 Accounts Payable $25,040 Unearned Revenue $3,300 Bank Loan $2,670 Gomez, Capital $22,732 Service Revenue $24,300 Interest Expense $72 Insurance Expense $1,940 Salaries Expense $7.900 Telephone Expense $200 Travel Expense $7,080 Total $78,042 578,042 The following adiustments must be made at the end of March Total $78,042 $78,042 The following adjustments must be made at the end of March Mar 31 The balance of prepaid rent represents a 12-month lease. One month has been u Mar 31 Depreciation of equipment for the month is $1,000. Mar 31 Gomez Services has earned $2,590 that was previously unearned. Required Create the journal entries for the adjustments. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. Date Account Title and Explanation Debit 2019 Credit
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Transcribed Image Text: CR Gomez Services had completed all of its journal entries for the month of March 2019 and posted them to the general ledger. Based on the ledger balances, an unadjusted trial balance has been prepared. Gomez Services Unadjusted Trial Balance March 31, 2019 Account Titles DR Cash $34,530 Accounts Receivable 59.990 Prepaid Rent $1,680 Equipment $ 14,650 Accounts Payable $25,040 Unearned Revenue $3,300 Bank Loan $2,670 Gomez, Capital $22,732 Service Revenue $24,300 Interest Expense $72 Insurance Expense $1,940 Salaries Expense $7.900 Telephone Expense $200 Travel Expense $7,080 Total $78,042 578,042 The following adiustments must be made at the end of March
Total $78,042 $78,042 The following adjustments must be made at the end of March Mar 31 The balance of prepaid rent represents a 12-month lease. One month has been u Mar 31 Depreciation of equipment for the month is $1,000. Mar 31 Gomez Services has earned $2,590 that was previously unearned. Required Create the journal entries for the adjustments. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. Date Account Title and Explanation Debit 2019 Credit
More Transcribed Image Text: CR Gomez Services had completed all of its journal entries for the month of March 2019 and posted them to the general ledger. Based on the ledger balances, an unadjusted trial balance has been prepared. Gomez Services Unadjusted Trial Balance March 31, 2019 Account Titles DR Cash $34,530 Accounts Receivable 59.990 Prepaid Rent $1,680 Equipment $ 14,650 Accounts Payable $25,040 Unearned Revenue $3,300 Bank Loan $2,670 Gomez, Capital $22,732 Service Revenue $24,300 Interest Expense $72 Insurance Expense $1,940 Salaries Expense $7.900 Telephone Expense $200 Travel Expense $7,080 Total $78,042 578,042 The following adiustments must be made at the end of March
Total $78,042 $78,042 The following adjustments must be made at the end of March Mar 31 The balance of prepaid rent represents a 12-month lease. One month has been u Mar 31 Depreciation of equipment for the month is $1,000. Mar 31 Gomez Services has earned $2,590 that was previously unearned. Required Create the journal entries for the adjustments. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. Date Account Title and Explanation Debit 2019 Credit
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Solution:       Journal Entries             Date Account Titles and Explanation  Debit     Credit  2019 Rent Expense A/c 140   Mar-31    Prepaid Rent A/c   140   (Expensed one month of rent)             Mar-31 Depreciation Expense A/c 1000        Accumulated Depreciati ... See the full answer