Question
Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select
Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.g. 1,527.) 1. Services performed for customers through February 27, 2022, but unbilled and uncollected were $2,960. 2. Received notice that a customer who was billed $160 for services performed on February 10 has filed for bankruptcy. Marin Cleaning Services does not expect to collect any portion of this outstanding receivable. 3. Marin Cleaning Services uses the allowance method to estimate bad debts. Marin Cleaning Services estimates that 3% of its month-end receivables will not be collected. 4. Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and a $390 salvage value. 5. Record 1 month of insurance expense. 6. An inventory count shows $310 of supplies on hand on February 28. 7. One week of services was performed for the customer who paid in advance on February 17. 8. Accrue for wages owed through February 28, 2022. 9. Accrue interest expense for 1 month. 10. Karen estimates a 20% income tax rate. (Hint: Prepare an income statement up to income before taxes to help with the income tax calculation.) No. Account Titles and Explanation Debit Credit 1. enter an account title for the first adjusting entry enter a debit amount enter a credit amount
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