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Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances include the following account information: November
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances include the following account information: November 30 December 31 Debit Credit Debit Credit Supplies 1,600 3,100 Prepaid Insurance 6,400 4,800 Salaries Payable 10,200 15,200 Deferred Revenue 2,200 1,100 The following information also is known: a. Purchases of supplies in December total $3,700. b. No insurance payments are made in December. c. $10,200 is paid to employees during December for November salaries. d. On November 1, a tenant pays Golden Eagle $3,300 in advance rent for the period November through January. Deferred Revenue is credited. Required: Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Required: Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjustment for supplies. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal
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