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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference

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Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaid or Accrual. Calculate the adjusted balance and use a Bal. post reference to show the ending balance of each account. Used office supplies of $650. The Office Supplies unadjusted balance on December 31 is $8,600. Adjustment Type: Supplies Expense Office Supplies Incurred interest expense of $1,000. Adjustment Type: Interest Expense Interest Payable Customers were billed for $2,100 for work completed. The Service Revenue unadjusted balance as of December 31 is $6,000. Adjustment Type: Accounts Receivable Service Revenue

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