The April utilities expense of $700 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $700 amount owed needs to be recorded.
Additional property taxes of $450 have been assessed for this fiscal year but have not been paid or recorded in the accounts.
The long-term note payable bears interest at 12% per year. The unadjusted Interest Expense ac¬count equals the amount paid for the first 11 months of the 2011 fiscal year. The $200 accrued interest for April has not yet been paid or recorded. (Note that the company is required to make a $4,000 payment toward the note payable during the 2012 fiscal year.)