Account balances taken from the ledger of Builders’ Supply Corporation on December 31, 2011, before

Account balances taken from the ledger of Builders’ Supply Corporation on December 31, 2011, before adjustment, follow information relating to adjustments on December 31, 2011:
(a) Allowance for Bad Debts is to be increased to a balance of $3,000.
(b) Buildings are depreciated at the rate of 5% per year.
(c) Accrued selling expenses are $3,840.
(d) There are supplies of $780 on hand.
(e) Prepaid insurance relating to 2012 totals $720.
(f) Accrued interest on long-term investments is $240.
(g) Accrued real estate and payroll taxes are $900.
(h) Accrued interest on the mortgage is $480.
(i) Income taxes are estimated to be 20% of the income before income taxes.

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