Question
Global Filter Corp. is just finishing another year of operations. The company's unadjusted trial balance at March 31, 2023 is shown below. The following
Global Filter Corp. is just finishing another year of operations. The company's unadjusted trial balance at March 31, 2023 is shown below. The following additional information is available at March 31 for the year just ended: a. $890 of interest has accrued on a note receivable and is unrecorded. b. Of the rent paid to Global Filter Corp. in advance, $750 has been earned. c. Interest of $590 has accrued on a note payable but is unrecorded. d. A review of the unadjusted balance in the prepaid rent account shows a remaining balance of $6,750 at the end of the year. e. The Equipment was purchased in a previous year and will be worthless after four years. f. The estimated yearly depreciation on the building is $200. g. The Furniture was purchased in a previous year and will be sold for $750 after being used for ten years. h. Consulting work performed but unrecorded at the end of the year totalled $10,000. Use this information to prepare adjusting entries at March 31, 2023, based on the above. Enter the adjustment letter as the description. The dates must be entered in the format dd/mmm (ie. 15/Jan).
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