Intermediate Accounting I

Provided below is information that pertains to J. Ageratum, Entrepreneur, for the close of the fiscal year ending October 31, 20x6 (a) Ageratum paid a local newspaper $500 for advertising that will be run in the paper in (b) Salaries and wages eaned but not paid as of the end of the fiscal year were as follows (c) | Ageratum estimates that 1.5% of his credit sales will be uncollectible. He recorded total (d) (e On October 1, Ageratum received S3,600 in rent from a tenant that rents space from him in (f) A bill from the electric company for October has been received in the amount of $750. No (g) Estimated depreciation on the company's office building is S10,500 per year, and is recorded November. The amount was charged to Advertising Expense when paid. selling. $2,400; and general and administrative, $3,600 sales for the year of $500,000, of which 70% were on account. b) Ageratum paid insurance premiums for coverage on the business amounting to $4,500. The insurance was purchased on July I and the premiums paid were for one calendar year. The premiums were charged to Insurance Expense when paid his small office building. The rent was for the months of October, November, and December. The amount was credited to Uncarned Rent upon receipt. entry has been made for this item uarterly in the accounting records. No entry for the last quarter has been made Ageratum has a mortgage loan on the books for his building. He makes monthly payments of $2,500 at the beginning of each month which include both principal and interest. The balance on the loan after the October 1 payment is $35,000. The mortgage loan contains an 8% annual interest rate. All interest amounts through the October 1 payment have been recorded. (h)