Question
ed of The following information is provided for Anthony's Engineering Consultants which is owned by Anthony Fleming as at 31st December 2021. 1. The business
ed of The following information is provided for Anthony's Engineering Consultants which is owned by Anthony Fleming as at 31st December 2021. 1. The business has a bank loan of $40,000. Interest of $1,600 is due on the loan but has not been recorded or paid as at the 31st December 2021. 2. On the 1st December the business purchased a 12-month insurance policy for $2,400. 3. Monthly depreciation on the business's office furniture is $700. 4. On the 5th of December 2021, a new client paid the business $3,800 for engineering services to be provided for the next two (2) months. At the end of December $2,000 of this revenue still remains unearned. Required: Prepare the adjusting journal entries that relate to each of the above transactions as at 31st December 2021. Narrations ARE NOT required. (8 marks).
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