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Adjusting Entry #1 Tip: Every jounal entry should have at least one debit entry and at least one credit entry. For AJE#1, you need to
Adjusting Entry #1 Tip:
Every jounal entry should have at least one debit entry and at least one credit entry. For AJE#1, you need to fix an error that was previously made by removing a credit from account 150 and crediting account 145 instead.
Project #3 Please use whole numbers. Do not use pennies or doller signs Commas are ok. Expanded Trial Balance orksheer Adjuated TiB 03-30-1 Acc Account Titie 100 Cash 105 Accounts Receivable 115 Merchandise Inventory 125 Equipment 135 Building 140 Land 145 AVD-Equipment 50 A/D-Furniture &Fixtures 155 A/D-Building 75,000 1,100,000 10,000 10,000 160 Prepaid Rent 24,000 165 Prepaid insurance 200 Accounts Payable 205 Payroll Payable 45,000 e 220 Accrued Expenses 20,000 225 Accrued Income Tax 230 Deferred Revenue n 235 Notes Payable Current 240 Mortgages Payable-Current 250 Notes Payable Long Term 255 Mortgages Payable-long Term 300 Common Stock 305 Preferred Stock 320 Dividends 1,000,000 50,000 100,000 20,000 e 325 Retained Earnings 400 Sales Merchandise 405 Sales-Services 500 Purchases Expense sa 600 vertising Expense 50,000 55,000 Expanded TB worksheet Balance Sheet Income StatementStep by Step Solution
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