Question

Desoto Company must make three adjusting entries on December 31, 2019. Supplies used, $10,600 (supplies totaling $17,200 were purchased on December 1, 2019, and debited to the Supplies account). Expired insurance, $7,800; on December 1, 2019, the firm paid $46,800 for six months’ insurance coverage in advance and debited Prepaid Insurance for this amount. Depreciation expense for equipment, $5,400.

Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts

*To answer I need the Journal entry

1. adjusting entry to supplies (debit and credit)

2. same but for insurance

3. same but for depreciation

Answer 1

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Please find below the answer
Statement showing Computations
Particulars	Debit	Credit
Supplies expense Dr	10,600.00
To Supplies		10,600.00
Insurance expense Dr	7,800.00
To Prepaid Insurance		7,800.00
Depreciation Expense Dr	5,400.00
To Accumulated depreciation- Equipment		5,400.00
Since ou asked only the journal entries, I have provided thejournal entries