Question
a. Prepaid insurance, beginning, $ 600$600. Payments for insurance during the period, $ 2 comma 700$2,700. Prepaid insurance, ending, $ 300$300. b. Interest revenue accrued,
a. | Prepaid insurance, beginning, $ 600$600. Payments for insurance during the period, $ 2 comma 700$2,700. Prepaid insurance, ending, $ 300$300. |
b. | Interest revenue accrued, $ 2 comma 400$2,400. |
c. | Unearned service revenue, beginning, $ 1 comma 700$1,700. Unearned service revenue, ending, $ 400$400. |
d. | Depreciation, $ 5 comma 700$5,700. |
e. | Employees' salaries owed for twotwo days of a five-day work week; weekly payroll, $ 15 comma 000$15,000. |
f. | Income before income tax, $ 22 comma 000$22,000. Income tax rate is 3535 %. |
1. Journalize the adjusting entries. (Record debits first, then credits. Exclude explanations from any journal entries.)
a. Prepaid insurance, beginning,
$ 600$600.
Payments for insurance during the period,
$ 2 comma 700$2,700.
Prepaid insurance, ending,
$ 300$300.
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a. |
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