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Adjusting Entries and Adjusted Trial Balances
Galloway Company is a small editorial services company owned and
operated by Fran Briggs. On July 31, 2014, the end of the current year,
Galloway Company’s accounting clerk prepared the unadjusted trial
balance shown below.
| Galloway Company |
| Unadjusted Trial Balance |
| July 31, 2014 |
|
Debit
Balances |
Credit
Balances |
| Cash |
4,420 |
|
|
|
| Accounts Receivable |
40,140 |
|
|
|
| Prepaid Insurance |
7,480 |
|
|
|
| Supplies |
2,040 |
|
