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Based on ( 1 ) the previous transactions and ( 2 ) the following information, prepare and post any necessary adjusting entries at year -
Based on the previous transactions and the following information, prepare and post any necessary adjusting entries at yearend. A physical count revealed supplies on hand of $ Depreciation on the store equipment is per year. Salvage value on the equipment is zero. Record depreciation for all of the store equipment which Koors Auto has on December not just the equipment which was purchased during the year. Of the $ worth of goods paid for in advance on September only $ worth of goods had been shipped to customers by yearend. Based on previous experience, Koors felt that of ending accounts receivable would ultimately be uncollectible. Please note: More than four adjusting entries need to be prepared.
Based on the previous transactions and the following information, prepare and post any necessary adjusting entries at yearend.
A physical count revealed supplies on hand of $
Depreciation on the store equipment is per year. Salvage value on the equipment is zero. Record depreciation for all of the store equipment which Koors Auto has on December not just the equipment which was purchased during the year.
Of the $ worth of goods paid for in advance on September only $ worth of goods had been shipped to customers by yearend.
Based on previous experience, Koors felt that of ending accounts receivable would ultimately be uncollectible.
Please note: More than four adjusting entries need to be prepared.
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