Answered step by step
Verified Expert Solution
Question
1 Approved Answer
January. 11, 2023 debit and credit January 4th, 2023 debit and credit January 1, 2023 debit and credit january 4th, 2023 debit and credit january
January. 11, 2023 debit and credit January 4th, 2023 debit and credit January 1, 2023 debit and credit january 4th, 2023 debit and credit january 2, 2023 debit and credit
Documenti Word wout References Mailings Review View H elp Layout Table Design 2 AA A-DA. ES: AaBbceDc Aabbcc AaBbc AaBbc A 1 Normal 1 No Spac... Heading 1 Heading 2 Paragraph Styles Whispering Winds Corp. has the following information available for accruals for the year ended December 31, 2022. The company adjusts its accounts annually. 1. The December utility bill for $390 was unrecorded on December 31. Whispering Winds paid the bill on January 11. 2. Whispering Winds is open 7 days a week and employees are paid a total of $3,220 every Monday for a 7-day (Monday-Sunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28- Thursday, December 31) that they have not been paid for by year-end Employees will be paid next on January 4. 3. Whispering Winds signed a $41,400, 5% bank loan on November 1, 2021, due in 2 years Interest is payable on the first day of each following month 4. Whispering Winds receives a fee from Pizza Shop next door for all pizzas sold to customers using Whispering Winds.s facility. The amount owed for December is $280, which Pizza Shop will pay on January 4. (Hint Use the Service Revenue account.) 5. Whispering Winds rented some of its unused warehouse space to a client for S5.520 a month payable the first day of the following month. It received the rent for the month of December on January 2 For each situation prepare the journal entry to record the subsequent cash transaction in 2023 DF DA OeStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started