Cornerstone Exercise 3-17 (Algorithmic) Accrued Revenue Adjusting Entries

Powers Rental Service had the following items that require adjustment at year end.

1. Earned $10,410 of revenue from the rental of equipment for which the customer had not yet paid.
2. Interest of $750 on a note receivable has been earned but not yet received.

Required:

Prepare the adjusting entries needed at December 31.

Dec. 31
	(Record revenue earned but not yet received)
Dec. 31
	(Record interest earned but not yet received)