Solution:
Journal Entries - Ivanhoe Company | |||
Event | Particulars | Debit | Credit |
1 | Insurance expense Dr [($14,940*12/36) + ($7,560*12/18)] | $10,020.00 | |
To Prepaid insurance | $10,020.00 | ||
(To record insurance expense) | |||
2 | Unearned rent revenue Dr | $81,320.00 | |
To Rent Revenue [($4,740*4*2) + ($8,680*5*1)] | $81,320.00 | ||
(To record rent revenue) | |||
3 | Interest expense Dr | $742.00 | |
To Interest Payable | $742.00 | ||
(To record interest expense accrued) | |||
4 | Salaries expense Dr [($615*6*3/5) + ($720*3*3/5)] | $3,510.00 | |
To Salaries Payable | $3,510.00 | ||
(To record salaries expense) |
the green is correct but the red is wrong. please give guided solution A review of...
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