annou "iew a cooks "iewc For Questions 1) through 4) below, prepare adjusting journal entries for the current month, August 2021. Each question is worth 1 point. (4 points) C 1) The $10,000 bank loan (from Question 2) carries 6% annual interest, payable semi- annually on June 30 and December 31. The loan was taken out on August 15, 2021. Half month interest expense should be accrued. E 2) The $3,000 equipment (from Question 4) has 5-year service life with no salvage value. The equipment was placed in service on August 15, 2021, and straight-line depreciation is used for the equipment. Half month depreciation expense should be accrued. 4 3) The insurance on the equipment was bought when the equipment was placed in service on August 15, 2021. Half month insurance expense should be accrued. annou "iew a 4) The company used about one third of supplies by the end of August. cooks "iew C 4 E Post the adjusting journal entries for 1) through 4) to the T-accounts on Page 3. Set up new T- accounts as necessary. Turn in Pages 3 and 4 together with the numbers posted from Assignment 1. 4 annou "iew a cooks "iewc For Questions 1) through 4) below, prepare adjusting journal entries for the current month, August 2021. Each question is worth 1 point. (4 points) C 1) The $10,000 bank loan (from Question 2) carries 6% annual interest, payable semi- annually on June 30 and December 31. The loan was taken out on August 15, 2021. Half month interest expense should be accrued. E 2) The $3,000 equipment (from Question 4) has 5-year service life with no salvage value. The equipment was placed in service on August 15, 2021, and straight-line depreciation is used for the equipment. Half month depreciation expense should be accrued. 4 3) The insurance on the equipment was bought when the equipment was placed in service on August 15, 2021. Half month insurance expense should be accrued. annou "iew a 4) The company used about one third of supplies by the end of August. cooks "iew C 4 E Post the adjusting journal entries for 1) through 4) to the T-accounts on Page 3. Set up new T- accounts as necessary. Turn in Pages 3 and 4 together with the numbers posted from Assignment 1. 4