Question

Required: Prepare the necessary December 31, 2021, adjusting journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 > Salaries earned from December 16 through December 31, 2021 were $1,500 and will be paid on January 7, 2022. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal
Pastina Company sells various types of pasta to grocery chains as private label brands. The company’s reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.

Answer 1

Adjusting Journal entries:

No.	Date	Account and explanation	Debit	Credit
1.		Depreciation expense a/c	$11500
		To Accumulated depreciation- equipment a/c		$11500
2.		Salaries expense a/c	$1500
		To salaries payable a/c		$1500
3.		Interest expense a/c {$53000*12%*(3/12)}	$1590
		To interest payable a/c		$1590
4.		Interest receivable a/c {$23000*8%*(10/12)}	$1533
		To interest revenue a/c		$1533
5.		Insurance expense a/c {($7500/24)*9}	$2813
		To prepaid insurance a/c		$2813

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