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I. Prepare the monthly adjusting entries in the general journal for the following items on December 31 for Mel's Carpets. a.) The supplies account has

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I. Prepare the monthly adjusting entries in the general journal for the following items on December 31 for Mel's Carpets. a.) The supplies account has a balance of $3400. Supplies on hand on 12/31 is $1400. b.) Salaries are paid weekly every Friday, December 31st falls on a Tuesday. The cost of salaries for a week is $1,000. c.) Unearned service revenue earned is $500. d.) Services performed but not billed, $2500. e.) A truck was bought on Jan 1st for $36,000. The useful life is 3 years and no salvage value. What is the adjusting entry for depreciation using straight-line method. f. During the year, Mel's carpets purchased prepaid insurance on 7/1 for $8,000 per year. Make the adjusting entry for 12/31

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