Question
Part A Prepare the adjusting entries for the month ended 30 June 2022. (7.5 marks) 1. Supplies expense at 30 June total $620. 2. The
Part A
Prepare the adjusting entries for the month ended 30 June 2022. (7.5 marks)
1. Supplies expense at 30 June total $620.
2. The ageing schedule indicates that $2 000 of accounts receivables will be uncollectable. The allowance for doubtful debts has a credit balance of $400.
3. The machine costing $22 500 has a 10-year life with $600 residual value. Use the straight-line method to record depreciation.
4. The insurance policy is for a year, costing $1 200. The policy commenced on 1 March 2022.
5. Invoices representing $3 500 of service performed during the month have not been recorded as of 30 June.
6. Services were performed in June in relation to $900 of revenue received in advance.
Narrations in the general journals are not required.
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