Additional information:

There is $$900$ of supplies on hand on December $31,2024.$

The one$-$year insurance policy was purchased on March $1,2024.$

Depreciation expense for the year is $$10,700$ for the equipment and $$4,900$ for the furniture.

Accrued interest expense at December $31,2024,$ is $$690.$

Unearned revenue of $$955$ is still unearned at December $31,2024.$ On the amount that was earned, cost of goods sold v

$$1,780.$

A physical count of merchandise inventory indicates $$33,000$ on hand on December $31,2024.$

Culver Enterprises uses the perpetual inventory system and the earnings approach.

please preaparev the adjusting entries assuming they are prepared anually Additional information:

There is $$900$ of supplies on hand on December $31,2024.$

The one$-$year insurance policy was purchased on March $1,2024.$

Depreciation expense for the year is $$10,700$ for the equipment and $$4,900$ for the furniture.

Accrued interest expense at December $31,2024,$ is $$690.$

Unearned revenue of $$955$ is still unearned at December $31,2024.$ On the amount that was earned, cost of goods sold v

$$1,780.$

A physical count of merchandise inventory indicates $$33,000$ on hand on December $31,2024.$

Culver Enterprises uses the perpetual inventory system and the earnings approach.