Question
1. Prepare journal entries to post the adjustments a.All insurance was paid in January for 1-year policies that are now expired b. The creditmanager estimates
1. Prepare journal entries to post the adjustments
a.All insurance was paid in January for 1-year policies that are now expired
b. The creditmanager estimates that $350 of Accounts Receivable will be uncollectible 3. Depreciation for 2016 has not yet been adjusted. The current year depreciation is calculated to be $474 4. The commissions are paid to independent contractors, not employees 5. No investments or withdraws were made by owners during the year 6. Some of the supplies and office supplies were specific to a certain project, were used immediately, and were originally charged to expense accounts 7. A physical count of ordinary office supplies indicated that $103 worth of office supplies were still present 8. Client Expense includes items such as permits, inspections, etc. that were paid by the business for specific clients 9. The client has elected to omit substantially all notes and disclosures that would normally accompany a financial statement
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