ADJUSTING ENTRIES

WHAT ACCOUNT TO CREDIT AND DEBIT

- The ending store and shop supplies inventory is $2,118.00.

- Storage Fees Earned for the quarter total $10,450.00.

- Wages accrued total 8.5 hours worked at $11.30 per hour.

- Additionalincometaxesexpensefortheperiodtotal $2,520.00.

- Accrue the interest on the short-term notes receivable. Calculate the interest to the nearest cent. Use the 360-day banker's year for all interest computations and record a single adjusting entry for the short-term interest.

Note Receivable: $10,000, 9.0%, 60-day note, dated June 22