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Exercise 3-7 A partial adjusted trial balance of Bridgeport Company at January 31, 2017, shows the following. BRIDGEPORT COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2017
Exercise 3-7 A partial adjusted trial balance of Bridgeport Company at January 31, 2017, shows the following. BRIDGEPORT COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2017 Debit Credit Supplies $820 Prepaid Insurance 3,120 Salaries and Wages Payable $920 Unearned Service Revenue 870 Supplies Expense 950 Insurance Expense 520 Salaries and Wages Expense 1,920 Service Revenue 2,120 Answer the following questions, assuming the year begins January 1 If the amount Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1? Beginning balance of supplies If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium? Total premium When was the policy purchased? The policy was purchased on LINK O XT If $2,620 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2016? Beginning balance of salaries and wages payable LINK TO TEXT If $1,720 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2016? Assume that there are no accounts receivable. Beginning balance of unearned service revenue Open Show Work Click if you would like to Show Work for this
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