Question
Instructions On December 31, 2019, Kellams Company made the following adjusting entries for its annual accounting period: To record depreciation on buildings. To record
Instructions On December 31, 2019, Kellams Company made the following adjusting entries for its annual accounting period: To record depreciation on buildings. To record interest on note receivable due January 28, 2020. To record expired prepaid rent. To record interest on note payable due March 16, 2020. PAGE 1 DATE 1 2 3 GENERAL JOURNAL ACCOUNT TITLE POST. REF. DEBIT CREDIT Adjusting Entries Dec. 31 Depreciation Expense 31 Interest Receivable Accumulated Depreciation 2,500.00 2,500.00 300.00 5 Interest Revenue 300.00 6 31 Rent Expense 300.00 7 Prepaid Rent 300.00 8 31 Interest Expense 700.00 Interest Payable 700.00
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