Question

Journal entry worksheet 1.66 points 2 3 4 5 eBook Hint On December 1, 2021, Wolverine receives $2,700 cash from a company that is renting office space from Wolverine. The payment, representing rent for December and January, is credited to Deferred Revenue. Record the adjusting entry for deferred revenue at its year-end of December 31. Note: Enter debits before credits. Ask Print Date General Journal References December 31 Debit Credit Record entry Clear entry View general journal

Answer 1

Answer
Adjusting entry
Date	General Journal	Debit	Credit
Dec-31	Deferred revenue (2700/2)	$     1,350
	Rent revenue		$     1,350
Dec-31	Insurance expense (11640*6/12)	$     5,820
	Prepaid insurance		$     5,820
Dec-31	Salaries expense	$     1,700
	Salaries payable		$     1,700
Dec-31	Interest expense (8500*12%*2/12)	$        170
	Interest payable		$        170
Dec-31	Supplies expense (870+2100-370)	$     2,600
	Supplies		$     2,600
	( To record Supplies expense )