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Exercise 294 Prepare year-end adjustments for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If

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Exercise 294 Prepare year-end adjustments for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) 1. Accrued interest on notes receivable is $30. 2. $1,020 of uneared service revenue should be recognized as revenue. 3. Three years' rent, totaling $45,900, was paid in advance at the beginning of the year. 4. Services totaling $2,968 had been performed but not yet billed at the end of the year. 5. Depreciation on equipment totaled $6,630 for the year. 6. Supplies purchased totaled $867. By year end, only $255 of supplies remained 7. Salaries owed to employees at the end of the year total $977 No. Account Tities and Explanation Debit Credit 1 2 3 6

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