The accountant for VVF, Inc. made a list of the accounts and…

The accountant for VVF, Inc. made a list of the accounts and their balances from the general journal; however, absent-mindedly, he/she/they did not prepare the information in an Adjusted Trial Balance format. 1.  For each of the accounts, place the account balance in the correct column, either as a debit balance or a credit balance.  All accounts are “normal”. If there is no balance in a column, place a 0 (for zero). In other words, every blank must be filled with either the account balance OR a zero. Do NOT enter dollar signs or commas. 2.  Enter totals for both the debit balances and for the credit balances.  (Remember that a Trial Balance must have total debit balances equal to total credit balances.) Account Titles         Account  Balances Debit  Balances Credit Balances Unearned revenues 160 Wages expense 620 Interest income 200 Common stock 2030 Fees earned 1200 Retained earnings 1425 Accounts receivable 80 Accumulated depreciation-auto 325 Accounts payable 190 Auto 4000 Depreciation expense 150 Interest expense 50 Dividends declared 180 Checking (cash) 1000 Interest payable 220 Insurance expense 130 Prepaid insurance 340 Note payable (25% due in 1 year) 800             TOTALS ————

Record the journal entry for the following transactions for…

Record the journal entry for the following transactions for VVF Corporation.  All account(s) and amount(s) to be debited must be entered first before entering account(s) and amount(s) to be credited.  Select the account from the drop-down menu.   If there is more than one debit and/or more than one credit, record the accounts in alphabetic order. Select the amount from the drop-down menu.  If there is no amount to be recorded in either the debit or credit column, select 0 (for zero).  In other words, every blank must be filled. On 3/1, VVF Corp. purchased $9000 of equipment, paying cash of $2000 and signing a note for the balance. On July 31, the fiscal year-end, the VVF accountants recorded the adjusting entry for the use of the equipment in operations.  The equipment has an estimated life of 3 years. On July 31, the fiscal year-end, the VVF accountants recorded the adjusting entry to accrue the costs of borrowing on the note.  The note carries a 12% annual rate of interest and both the interest and principal is not due until the due date (maturity) of the note. Record the adjusting entries in the order listed above. Date Account Title Debit Credit 3/1/20X1 9000 2000 7000 7/31/20X1 7/31/20X1