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Learning Task 7: Directions: Prepare adjusting entries of the following transactions, 1. A tenant occupying a space of the building, agreed beginning on November 1
Learning Task 7: Directions: Prepare adjusting entries of the following transactions, 1. A tenant occupying a space of the building, agreed beginning on November 1 to pay P15,000 per month and on that he paid six-months rent in advance. The amount paid was credited to the a) Uneamed Rent Account; and b) another entry was made crediting Rent Income 2. Four employees eam a total of P1,000 per day for 5 day week that begins on Monday and ends on Friday. They are paid for the week ended Friday, December 28. 3. Accrued driver's wages at the end of the year is P3,000. 4. One month interest on a P10,000 10. 60 day note was not yet collected 5. The business has received electric bill for P25,000 for the month but not yet paid till the end of the month
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