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Adjustment and additional data: 1. Accrued $8,800 for utilities, $8,800 for salaries, and $7,920 for interest on the bank loan. 2. Recorded depreciation on equipment,
Adjustment and additional data: 1. Accrued $8,800 for utilities, $8,800 for salaries, and $7,920 for interest on the bank loan. 2. Recorded depreciation on equipment, which has an expected useful life of 10 years. 3. Recorded an additional $44,000 of income tax payable. 4. Common shares of $880 were issued during the year. 5. $39,600 of the bank loan is due to be repaid in the next year. Record adjusting entries for the year ended March 31, 2021, assuming adjusting entries are made annually. before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent m required, select "No Entry" for the account titles and enter O for the amounts.)
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