Answered step by step
Verified Expert Solution
Question
1 Approved Answer
CJ COLLEGE HEALTHCARE CICOLLEGE. Mr. Mike Silbernagel operates an AT THE CENTER OF YOUR advertising business called A Advertising. He had the following adjustments
CJ COLLEGE HEALTHCARE CICOLLEGE. Mr. Mike Silbernagel operates an AT THE CENTER OF YOUR advertising business called A Advertising. He had the following adjustments for the month of March 2019. March 31 Recognized $2,220 rent expense used for the month. An annual magazine subscription with monthly issues was prepaid on March March 31 1, 2019 for $348. By March 31, one issue had been received. March 31 Computers' depreciation for the month is $700. March 31 Salaries for employees accrued by $2,820 by the end of the month. A 30-day contract was started on March 15. The customer will pay $7,020 at March 31 the end of the contract in April. Half of the contract was completed by the end of the month. Accrue the revenue earned by the end of March. Prepare the journal entries for the above transactions. Date Account Title and Explanation 2019 March 31 March 31 March 31 March 31 March 31 To record rent expense for the month To record one month of subscriptions To record depreciation for the month To accrue salaries To accrue revenue earned Debit Credit
Step by Step Solution
★★★★★
3.44 Rating (163 Votes )
There are 3 Steps involved in it
Step: 1
Date Account Titles and Explanation Debit Credit March 31 Insurance ex...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started