Question

a. The company provided $3,600 in services to customers that are expected to pay the company sometime in January following the company's year-end. b. Wage expenses of $2,600 have been incurred but are not paid as of December 31. c. The company has a $6,600 bank loan and has incurred (but not recorded) 7% interest expense of $462 for the year ended December 31. The company will pay the $462 interest in cash on January 2 following the company's year-end. d. The company contracted with a firm for lawn services to be provided at a monthly fee of $660 with payment occurring on the 15th of the following month. Payment for December services will occur on January 15 following the company's year-end. e. The company has earned $360 in interest revenue from investments for the year ended December 31. The interest revenue will be received on January 15 following the company's year-end. f. Salary expenses of $1,060 have been earned by supervisors but not paid as of December 31. Prepare year-end adjusting journal entries as of December 31, 2017, for each of the above separate cases. View transaction list Journal entry worksheet < 1 2 3 4 The company has earned $360 in interest revenue from investments for the year ended December 31. The interest revenue will be received on January 15 following the company's year-end. Note: Enter debits before credits. Transaction General Journal Debit Credit e. Record entry Clear entry View general journal

Answer 1

	General Journal	Debit	Credit
a	Accounts Receivable	3600
	Revenue		3600
b	Wages expense	2600
	Wages payable		2600
c	Interest expense	462
	Interest payable		462
d	Lawn services expense	660
	Lawn services payable		660
e	Interest receivable	360
	Interest revenue		360
f	Salary expense	1060
	Salary payable		1060