Adjusting Entries
Account Titles | Debit | Credit | ||
1 | Insurance expense | $ 900 | =2400/24*9 | |
Prepaid Insurance | $ 900 | |||
2 | Rent Revenue | $ 7,000 | =12000/12*7 | |
Unearned Rent Revenue | $ 7,000 | |||
3 | Supplies Expense | $ 1,145 | =1450-305 | |
Supplies | $ 1,145 | |||
4 | Depreciation Expense | $ 1,000 | =(9600-600)/6*8/12 | |
Accumulated Depreciation | $ 1,000 | |||
5 | Interest Expense | $ 1,875 | =50000*9%*5/12 | |
Interest Payable | $ 1,875 | |||
6 | Interest Receivable | $ 467 | =20000*14%*2/12 | |
Interest Revenue | $ 467 |
Reversing Entries
Account Titles | Debit | Credit |
Interest Payable | $ 1,875 | |
Interest Expense | $ 1,875 | |
Interest Revenue | $ 467 | |
Interest Receivable | $ 467 |
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Please show on Excel For Stillwater Sports, assume a December 31 year end, and make the...
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