Question

Prepare the adjusting entries, and post to the T-accounts.

a.	Office Supplies used during the​ month, $ 1 comma 000$1,000.
b.	Depreciation for the​ month, $ 150$150.
c.	One month insurance has expired.
d.	Accrued Interest​ Expense, $ 140

Answer 1

Journal Entry

Date Account title & explanation Debit Credit

a) Office supplies $1000

Supplies 1000

  (To record consumption of supplies)

b) Depreciation $150

Accumulated Depreciation $150

( To record depreciation)

c) Insurance expense

Prepaid insurance

(To record insurance expense)

d) Interest expense $140

Interest Payable $140

(To record accrued interest)

(Note Insurance amount is missing)