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P4-2 (Algo) Recording Adjusting Entries LO4-1 [The following information applies to the questions displayed below.] All of the current year's entries for Zimmerman Company have

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P4-2 (Algo) Recording Adjusting Entries LO4-1 [The following information applies to the questions displayed below.] All of the current year's entries for Zimmerman Company have been made, except the following adjusting entries. The company's annual accounting year ends on December 31 a. On September 1 of the current year, Zimmerman collected six months' rent of $8,640 on storage space. At that date. Zimmerman debited Cash and credited Unearned Rent Revenue for $8,640. b. On October 1 of the current year, the company borrowed $22,800 from a local bank and signed a one-year, 13 percent note for that amount. The principal and interest are payable on the maturity date. c. Depreciation of $3,000 must be recognized on a service truck purchased in July of the current year at a cost of $19,000. d. Cash of $4,500 was collected on November of the current year for services to be rendered evenly over the next year beginning on November 1 of the current year. Unearned Service Revenue was credited when the casti was received e. On November 1 of the current year, Zimmerman paid a one-year premium for property insurance, $9.720, for coverage starting on that date Cash was credited and Prepaid Insurance was debited for this amount 1. The company earned service revenue of $3.700 on a special job that was completed December 29 of the current. year. Collection will be made during January of the next year. No entry has been recorded. 9 At December 31 of the current year, wages earned by employees totaled $13.500. The employees will be paid on the next payroll date in January of the next year h. On December 31 of the current year, the company estimated it owed $550 for this year's property taxes on land The tax will be paid when the bill is recelved in January of next year Journal entry worksheet On September 1 of the current year, Zimmerman collected six months' rent of $8,640 on storage space. At that date, Zimmerman debited Cash and credited Unearned Rent Revenue for $8,640. Note: Enter debits before credits. Journal entry worksheet On October 1 of the current year, the company borrowed $22,800 from a local bank and signed a one-year, 13 percent note for that amount. The principal and interest are payable on the maturity date. Note: Enter debits before credits. Journal entry worksheet Depreciation of $3,000 must be recognized on a service truck purchased in July of the current year at a cost of $19,000. Note: Enter debits before credits. Journal entry worksheet Cash of $4,500 was collected on November of the current year for services to be rendered evenly over the next year beginning on November 1 of the current year. Unearned Service Revenue was credited when the cash was received. Note: Enter debits before credits. Journal entry worksheet 8 On November 1 of the current year, Zimmerman paid a one-year premium for property insurance, $9,720, for coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount. Note: Enter debits before credits. Journal entry worksheet The company earned service revenue of $3,700 on a special job that was completed December 29 of the current year. Collection will be made during January of the next year. No entry has been recorded. Note: Enter debits before credits. Journal entry worksheet At December 31 of the current year, wages earned by employees totaled $13,500. The employees will be paid on the next payroll date in January of the next year. Note: Enter debits before credits. Journal entry worksheet On December 31 of the current year, the company estimated it owed $550 for this year's property taxes on land. The tax will be paid when the bill is received in January of next year. Note: Enter debits before credite

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