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Part A: Prepare adjustments in the General Journal for transactions 1-5. Premiums for insurance expired during the year are $315.00. Accumulated depreciation for the year
Part A: Prepare adjustments in the General Journal for transactions 1-5. Premiums for insurance expired during the year are $315.00. Accumulated depreciation for the year is $4,950.00. Accrued wages that have not been paid to employees for $440.00. Earned but unrecorded income of $1,000. Supply expenses for a total of $890.00.
Part B;
Classify the examples in Part A as cumulative and deferred.
What impact did the transaction have on the accounts used?
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