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Donut House, a coffee shop, had the following separate situations occur during 2018. The company's accountant is preparing the annual financial statements at December 31,

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Donut House, a coffee shop, had the following separate situations occur during 2018. The company's accountant is preparing the annual financial statements at December 31, 2018 and has asked you to prepare the adjusting entries for each situation. You must show your calculations for full points. Please omit journal entry descriptions. a) The Supplies account had a beginning of the month balance of $825. During the month (December), an additional $1,200 of supplies were purchased. The ending balance in supplies was $170. b) On August 1, 2018, the company prepaid for annual insurance in the amount of $62,000. The last adjusting entry was made September 30, 2018. c) Employees will earn $98,000 for the five day week starting Monday, December 30. Tuesday is the end of the year. Employees were paid through the previous Friday and will not be issued another paycheck until January 3, 2019. d) On October 1st, Amazon a customer, made an advance payment for a first Friday donut party where employees are sent a donut the first Friday of every month for the next year, starting November. They paid $60,000 for the next year. As of 12/31/18, no adjusting entries have been recorded for this. e)The company took out a loan of $65,000 to purchase a donut fryer on April 1. 2018. Interest on the loan is 5% per year. The last adjustment the company recorded was made on Nov 30, 2018. Record the end of year adjusting entry related to the loan. The company took out a loan of $65,000 to purchase a donut fryer on April 1, 2018. It will depreciate at $8,125 per year. The last adjustment the company recorded was made on Nov 30, 2018. Record the end of year adjusting entry. Journal Entry Form (copy/paste into your solution so you don't have to do the formatting. Ignore dates. You may have to copy it twice to fit all journal entries. Once you copy it, you can expand it by dragging on the far right corner). If you cannot copy it, okay to just type your JEs without a table (e.g., Debit Cash $50, Credit Accts Receiv $50) Item Account Debit Credit

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