1. Record the earned revenue.
2. Record the depreciation expense.
3. Record the use of spare parts inventory.
4. Record the accrued revenue.
5. Record the accrued utilities expense.
6. Record the collection of accrued revenues.
7. Record the payment of accrued utilities expense.
Homework Answers
Adjusting entries
| No | General Journal | Debit | Credit |
| a | Unearned revenue (17600-2600) | 15000 | |
| Revenue earned | 15000 | ||
| b | Depreciation expense | 13700 | |
| Accumulated depreciation-Building | 13700 | ||
| c | Cost of goods sold (1020-890) | 130 | |
| Inventory | 130 | ||
| d | Account receivable | 13700 | |
| Revenue earned | 13700 | ||
| e | Utilities expense | 1200 | |
| Account payable | 1200 | ||
| f | Cash | 13700 | |
| Account receivable | 13700 | ||
| g | Utilities payable | 1200 | |
| Cash | 1200 | ||
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