Question
On December 31, the adjusted trial balance of Marigold Employment Agency shows the following selected data. Accounts Receivable$23,300 Service Revenue$93,200 Interest Expense 7,900 Interest Payable
On December 31, the adjusted trial balance of Marigold Employment Agency shows the following selected data.
Accounts Receivable$23,300 Service Revenue$93,200 Interest Expense 7,900 Interest Payable 2,900
Analysis shows that adjusting entries were made to (1) accrue $6,500of service revenue and (2) accrue $2,900interest expense.
Prepare the closing entries for the temporary accounts shown above at December 31.
Prepare the reversing entries on January 1
Post the entries in (a) and (b).
Prepare the entries to record (1) the collection of the accrued revenue on January 10 and (2) the payment of all interest due ($3,700) on January 15.
Post the entries in (d) to the temporary accounts.
any help please step by step
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