I am having trouble getting my adjusted trial balance to come out right. Can someone please tell me what I'm doing wrong?
The trial balance is as follows
Dr. Cash 140
Dr. Advertising Supplies 165
Dr. Baking Supplies 125
Dr. Prepaid Insurance 1,320
Dr. Baking Equipment 1,300
Cr. Unearned Revenue 25
Cr. Note Payable 2,000
Cr. Capital 900
Cr. Teaching Revenue 125
1. A count reveals that $75 of brochures and posters remain at the end of the month
2. A count reveals that $35 was used of baking supplies during current month
3. Estimated baking equipment will have a usefule life of 5 years (Assume we decide to record a full month's worth of depreciation) Round to the nearest dollar
4. The note payable has a 6% interest. We are to pay the loan plus interest in a 24 month period. (Assume that half a month of interest has accured)
5. Prepare an invoice for $250 for teaching services. It will be paid next month.
6. Receive cellphone bill for $45 that is used for the business. The bill is for services provided during this month but isn't due until next month
This is what I have come up with for the adjusted trial
Dr. Cash 140
Dr. Accounts Receivable 250
Dr. Advertising Supplies 75
Dr. Baking Supplies 90
Dr. Prepaid Insurance 1,320
Dr. Baking Equipment 1,300
Cr. Accumulated Dep. Baking Equip. 22
Cr. Accounts Payable 0
Cr. Interest Payable 5
Cr. Unearned Revenue 25
Cr. Note Payable 2,000
Cr. Capital 900
Cr. Teaching Revenue 125
Dr. Telephone Exp 45
Dr. Advertising Supplies Exp 0
Dr. Baking Supplies Exp 0
Dr. Depreciation Exp 0
Dr. Interest Exp 0
Totals Dr. 3,220 and Cr. 3,077
What am I doing wrong? Please help