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Answer Must be correct. Do answer step by step. Must answer all part. If answer is correct I will give you 2 upvotes. Answer within
Answer Must be correct. Do answer step by step. Must answer all part. If answer is correct I will give you 2 upvotes. Answer within 20 minutes.
2. Following is the unadjusted trial balance of Mohammad Abdullahs Electric House for the year ended December 31, 2021 $200,000 10,000 1,000 12,000 80,000 Mohammad Abdulla's Electric House 31, December 2021 Unadjusted Trail balance Cash Accounts Receivable Supply Prepaid Insurance Equipment Accumulated depreciation Equipment Accounts payable Unearned service revenue Loan payable Owner's Capital Owner's Drawings Service Revenues Salaries expense Cleaning expense $5,000 15,000 6,000 50,000 184,000 2,000 55,000 8,000 2,000 $315,000 $315,000 Other data: 1. Supplies on hand revealed at 31, December $300. 2. Prepaid insurance was paid on 1 July 2021 for 12 months. 3. Interest expense due on loan payable for last 4 months. Quarterly interest rate is 3%. 4. Salary expense per day $500, December 31 is Wednesday. Employees are paid on Monday for the preceding 5 days work week. 5. One third of the unearned service revenue has been earned. Requirements: a) Journalize the adjusting entries for the year ended 31, December 2021. [5] b) Complete the worksheet for the year ended 31, December 2021. [7]
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