Question
Blossom Services Company records adjusting entries on an annual basis. The following information is available to be used in recording adjusting entries for the year
Blossom Services Company records adjusting entries on an annual basis. The following information is available to be used in recording adjusting entries for the year ended December 31, 2021. 1. Prepaid insurance totalling $250 has expired. 2. Supplies of $250 have been used. 3. Annual depreciation on equipment is $1,100. 4. Services related to unearned revenue of $150 were performed. 5. Salaries of $700 are unpaid. 6. Utility expenses for 2021 of $150 are unrecorded and unpaid. 7. Services provided but not collected in cash or recorded total $900. 8. Interest of $75 on a note payable has accrued. For each adjustment, prepare a basic analysis, a debit-credit analysis. Use the following format, in which the first one has been done: No. Basic Type Increase/Decrease Specific Account Amount 1. Debit Expense Increases Insurance Expense $250 Credit Asset Decreases Prepaid Insurance 250 2. Debit select a Basic Type select an effect enter a Specific Account enter a dollar amount Credit select a Basic Type select an effect enter a Specific Account enter a dollar amount 3. Debit select a Basic Type select an effect enter a Specific Account enter a dollar amount Credit select a Basic Type select an effect enter a Specific Account enter a dollar amount 4. Debit select a Basic Type select an effect enter a Specific Account enter a dollar amount Credit select a Basic Type select an effect enter a Specific Account enter a dollar amount 5. Debit select a Basic Type select an effect enter a Specific Account enter a dollar amount Credit select a Basic Type select an effect enter a Specific Account enter a dollar amount 6. Debit select a Basic Type select an effect enter a Specific Account enter a dollar amount Credit select a Basic Type select an effect enter a Specific Account enter a dollar amount 7. Debit select a Basic Type select an effect enter a Specific Account enter a dollar amount Credit select a Basic Type select an effect enter a Specific Account enter a dollar amount 8. Debit select a Basic Type select an effect enter a Specific Account enter a dollar amount Credit select a Basic Type select an effect enter a Specific Account enter a dollar amount eTextbook and Media List of Accounts Prepare the adjusting journal entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. Dec. 31 enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount 2. Dec. 31 enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount 3. Dec. 31 enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount 4. Dec. 31 enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount 5. Dec. 31 enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount 6. Dec. 31 enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount 7. Dec. 31 enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount 8. Dec. 31 enter an account title for the adjusting journal entry on December 31 enter a debit amount enter a credit amount enter an account title for the adjusting journal entry on December 31.
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