adjusting entry

Instructions A one-year insurance policy was purchased on June 1 for $3,480. Required: Prepare the adjusting entry on December 31. Refer to the Chart of Accounts for exact wording of account titles. General Journal Prepare the adjusting entry on December 31. Refer to the Chart of Accounts for exact wording of account titiles. PAGE 1 JOURNAL DEBIT DATE rt of Accounts CHART OF ACCOUNTS General Ledger REVENUE ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 16 Office Building 17 Accumulated Depreciation-Office Building 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Interest 54 Wages Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense Expense LIABILITIES 21 Accounts Payable 22 Notes Payable 23 Unearned Fees 24 Wages Payable 25 Interest Payable All work saved