During the month, the Supplies (asset) account was debited $1,650 for supplies purchased. The cost of supplies used during the month was $1,200. Record the adjustment to properly reflect the amount of supplies used and supplies still on hand at the end of the month.

An insurance premium of $400 was paid for the coming year. Prepaid Insurance was debited.

Wages of $3,425 were paid for the current month.

Interest revenue of $260 was received for the current month.

Accrued $680 of commissions payable to sales staff for the current month.

Accrued $120 of interest expense at the end of the month.

Received $2,475 on accounts receivable accrued at the end of the prior month.

Purchased $630 of merchandise inventory from a supplier on account.

Paid $150 of interest expense for the month.

Accrued $880 of wages at the end of the current month.

Paid $510 of accounts payable.

Indicate the financial statement effect.

Balance Sheet Category							Income Statement
Transaction/ Adjustment	Assets	=	Liabilities	+	Stockholders' Equity		Net Income Effect
a.	Supplies -1,200						Supplies Exp -1,200
b.
c.
d.
e.
f.
g.
h.
i.
j.
k.

Required A