Answer last two

Sandhill Company has a September 30 fiscal year end and prepares adjusting entries on an annual basis. The trial balance included the following selected accounts: Accumulated depreciation $4,550 Depreciation expense 0 Interest expense Interest payable Interest receivable 0 Interest revenue 0 Salaries expense 155,000 Salaries payable 0 4 Additional information for its September 30, 2021, year-end adjustments: 1. Sandhill has a two-year, 4% note receivable for $4,800 that was issued on April 1, 2021. Interest is payable every six months, on October 1 and April 1. Principal is payable at maturity. Sandhill collected the correct amount on October 1, 2021. 2. Accrued salaries as at September 30, 2021, were $2,300. Payroll totalling $2,760 was paid on October 2, 2021. 3,100 0 3. Sandhill has a five-year, 5% note payable for $74,400 issued in 2019. Interest is payable quarterly on January 31, April 30, July 31, and October 31 each year. Sandhill paid the correct amounts in 2021. 4. Depreciation expense for the year ended September 30, 2021, was $4,550. (a) Your answer is correct. Prepare T accounts and record the September 30, 2021, balances. Salaries Expense Sept. 30 Bal. 155000 Interest Expense Sept. 30 Bal 3100 Accumulated Depreciation Sept. 30 Bal. ACED Prepare adjusting journal entries for items 1 to 4 above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Sept. 30 Interest Receivable Interest Revenue (To record accrued interest) Sept. 30. Salarles Expense Sept. 30. Salaries Payable (To record accrued salaries) Interest Expense Interest Payable (To record accrued interest) 4 96 2300 620 111 96 2300 620 Sept.30 Depreciation Expense 4550 4550 (To record depreciation) Post adjusting journal entries for items 1 to 4 above. (Post entries in the order of journal entries presented above. Round answers to O decimal places, eg. 5,275.) Interest Receivable Sapt. 30 96 Bal. 96 Interest Revenue 4 Sept. 30 96 Bal. 96 Accumulated Depreciation Sept. 30 Bal. Sept. 30 Bal. Sept. 30 Bal. Sept. 30 Bal. Salaries Payable Sept. 30 Bal. Salaries Expense 155,000 2300 157300 Interest Payable Sept. 30 Bal. Interest Expense 3,100 620 3720 2300 2300 620 620 EN Sept. 30 Bal. Accumulated Depreciation Sept. 30 Bal. Sept. 30 Bal. Depreciation Expense 4550 4550 4,550 4550 9100 Prepare entries to close these revenue and expense accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg 5,275.) Date Account Titles and Explanation Debit Credit Sept. 30 (To close revenue account) Sept. 30 (To close expense accounts) Post to the T accounts, Note: Do not post to the income summary account. (Post entries in the order of journal entries presented above Round answers to 0 decimal places, eg 5,275, For balances ending in 0 select bal for normal balance of the are Post to the T accounts. Note: Do not post to the income summary account. (Post entries in the order of journal entries presented above Round answers to 0 decimal places, eg 5,275. For balances ending in 0 select bal for the date and 0 for the amount for the normal balance of the account.) Interest Receivable Interest Revenue Salaries Payable Salaries Expense Salaries Expense Interest Payable Interest Expense 4 Accumulated Depreciation Depreciation Expense Sandhill Company has a September 30 fiscal year end and prepares adjusting entries on an annual basis. The trial balance included the following selected accounts: Accumulated depreciation $4,550 Depreciation expense 0 Interest expense Interest payable Interest receivable 0 Interest revenue 0 Salaries expense 155,000 Salaries payable 0 4 Additional information for its September 30, 2021, year-end adjustments: 1. Sandhill has a two-year, 4% note receivable for $4,800 that was issued on April 1, 2021. Interest is payable every six months, on October 1 and April 1. Principal is payable at maturity. Sandhill collected the correct amount on October 1, 2021. 2. Accrued salaries as at September 30, 2021, were $2,300. Payroll totalling $2,760 was paid on October 2, 2021. 3,100 0 3. Sandhill has a five-year, 5% note payable for $74,400 issued in 2019. Interest is payable quarterly on January 31, April 30, July 31, and October 31 each year. Sandhill paid the correct amounts in 2021. 4. Depreciation expense for the year ended September 30, 2021, was $4,550. (a) Your answer is correct. Prepare T accounts and record the September 30, 2021, balances. Salaries Expense Sept. 30 Bal. 155000 Interest Expense Sept. 30 Bal 3100 Accumulated Depreciation Sept. 30 Bal. ACED Prepare adjusting journal entries for items 1 to 4 above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Sept. 30 Interest Receivable Interest Revenue (To record accrued interest) Sept. 30. Salarles Expense Sept. 30. Salaries Payable (To record accrued salaries) Interest Expense Interest Payable (To record accrued interest) 4 96 2300 620 111 96 2300 620 Sept.30 Depreciation Expense 4550 4550 (To record depreciation) Post adjusting journal entries for items 1 to 4 above. (Post entries in the order of journal entries presented above. Round answers to O decimal places, eg. 5,275.) Interest Receivable Sapt. 30 96 Bal. 96 Interest Revenue 4 Sept. 30 96 Bal. 96 Accumulated Depreciation Sept. 30 Bal. Sept. 30 Bal. Sept. 30 Bal. Sept. 30 Bal. Salaries Payable Sept. 30 Bal. Salaries Expense 155,000 2300 157300 Interest Payable Sept. 30 Bal. Interest Expense 3,100 620 3720 2300 2300 620 620 EN Sept. 30 Bal. Accumulated Depreciation Sept. 30 Bal. Sept. 30 Bal. Depreciation Expense 4550 4550 4,550 4550 9100 Prepare entries to close these revenue and expense accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg 5,275.) Date Account Titles and Explanation Debit Credit Sept. 30 (To close revenue account) Sept. 30 (To close expense accounts) Post to the T accounts, Note: Do not post to the income summary account. (Post entries in the order of journal entries presented above Round answers to 0 decimal places, eg 5,275, For balances ending in 0 select bal for normal balance of the are Post to the T accounts. Note: Do not post to the income summary account. (Post entries in the order of journal entries presented above Round answers to 0 decimal places, eg 5,275. For balances ending in 0 select bal for the date and 0 for the amount for the normal balance of the account.) Interest Receivable Interest Revenue Salaries Payable Salaries Expense Salaries Expense Interest Payable Interest Expense 4 Accumulated Depreciation Depreciation Expense