Before you prepare the eight adjusting journal entries below in an Excel spreadsheet, please make sure corrections have been made to any of the previous journal entries in part one. The following are the adjusting journal entries for the month of January.

Record all adjusting entries as of January

$31$

$,$

$2024$

$.$

Record Adjusting Entries: Record the following month end adjusting entries for the month of January. Write the journal entries in the practice set after the original journal entries and round to the nearest cent.

a

$.$

$$$

$50$

$$of store supplies remained on hand.

b

$.$

$$$

$10$

$$of office supplies remained on hand.

c

$.$

$$$

$1$

$,$

$250$

$$of wages for the part

$-$

time help from Irene's Temp Services for January should be accrued. Do not worry about payroll taxes; Temp Services Inc. will handle these.

d

$.$

$$Make the necessary adjusting entry for one month's depreciation for the furniture and fixtures using Straight Line Depreciation.

e

$.$

$$Make the necessary adjusting entry for the office equipment using Straight Line Depreciation.

f

$.$

$$One month of the prepaid insurance has expired.

g

$.$

$$One month of the prepaid rent has expired.

h

$.$

$$Record the interest on the loan from Wells Fargo.

Make sure you prepare the adjusting entries and write them in the template for the adjusting entries. Follow the same instructions for the adjusting journal entries that you did in part one. Once the adjusting entries have been completed in the spreadsheet use the spreadsheet to answer the questions in Blackboard then upload the spreadsheet to Blackboard. Follow these instructions.

Step

$1$

: Enter the journal entries into the Excel Template spreadsheet and when completed print it out. Save your completed template to your computer where you can access it later to upload.

Step

$2$

: Use the Excel Template spreadsheet to answer the questions in Blackboard for the corresponding week in the content folder.

Step

$3$

: Once you complete entering information into Blackboard, upload the template spreadsheet into Blackboard by clicking on the navigation pane then clicking on Practice Set.