Identifying types of adjusting entries [5 min]
A select list of transactions for Anuradha’s Goals follows:
Apr 1 | Paid six months of rent, $4,800. |
10 | Received $1,200 from customer for six-month service contract that began April 1. |
15 | Purchased computer for $1,000. |
18 | Purchased $300 of office supplies on account. |
30 | Work performed but not yet billed to customer, $500. |
30 | Employees earned $600 in salary that will be paid May 2. |
Requirement
1. For each transaction, identify what type of adjusting entry would be needed.
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