Question

Required information Account Name Supplies Interest receivable Salaries payable Deferred revenue Account Balance $15, eee @ Account Name Service revenue Interest revenue Supplies expense Salaries expense Account Balance $147,200 e e 66,300 9,600 1. Supplies remaining at the end of the year. 2. Services remaining to be provided to customers who paid in advance. 3. Employees are owed additional salaries at the end of the year. A note receivable was accepted on March 31. Interest rate on note $ 6,109 2,100 7, 2ee 7,600 8% 3 nces Required: 1. Prepare the adjusting journal entries based on the results of your revised Spreadsheet View transaction list Journal entry worksheet 2 3 4 > Record the adjusting entry for supplies expense if supplies on hand at the end of the year were $6.100 N Enterdische

Answer 1

Hope this helps You.Thank you!?

Credit 8900 i preparation of adjusting Journal entries - Transaction General Journal Debat Supplies Expense ale ----DY 8900 To supplies alc 6100) (To Record adjusting entry for supplies expense of supplies on hand at the end of the year were $ 6100.) $15000 2. Dr 7500 7500 3 , 7200 7200 Deffered Revenue ale ---. To service Revenue ale (9600 – 2100) (to record adjusting entry for services remaining to be provided to customers who poåd 22100 in advance ) Salaries Expense ale To salaries payable alc (To Record the additional salaries of $7,200 owed to employees) Interest Receivable alco To interest Revenue 96 C$ 7600x6% = 608) (Assuming that here march 31 refas last year march 31st and recording the lyr interest (To Record interest on the Note Receivable). 608 608 to