Wren Industries has the following general ledger balances on December 31 of the current year before it
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Wren Industries has the following general ledger balances on December 31 of the current year before it records adjusting entries. A general journal is provided in the Working Papers. Work this problem independently.
1. Using the following adjustment information, journalize the adjusting entries for supplies and insurance on December 31 of the current year.
2. Journalize the reversing entries on January 1 of the next year.
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