Question
Desoto Company must make three adjusting entries on December 31, 2019. Supplies used, $10,600 (supplies totaling $17,200 were purchased on December 1, 2019, and debited
Desoto Company must make three adjusting entries on December 31, 2019. Supplies used, $10,600 (supplies totaling $17,200 were purchased on December 1, 2019, and debited to the Supplies account). Expired insurance, $7,800; on December 1, 2019, the firm paid $46,800 for six months insurance coverage in advance and debited Prepaid Insurance for this amount. Depreciation expense for equipment, $5,400.
Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts
*To answer I need the Journal entry
1. adjusting entry to supplies (debit and credit)
2. same but for insurance
3. same but for depreciation
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