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part b needed to be done, thank you! This following is a partial adjusted trial balance of Oriole Corporation: Your answer has been saved. See
part b needed to be done, thank you!
This following is a partial adjusted trial balance of Oriole Corporation: Your answer has been saved. See score details after the due date. Answer the following questions, assuming Orlando's year-end is December 31 and adjusting entries are recorded monthly. (1) If the amount in Supplies Expense was recorded in the January 31 adjusting entry, and $670 of supplies was purchased in January, what was the balance in Supplies on January 1 ? Supplies balance $ (2) If the amount in Insurance Expense was recorded in the January 31 adjusting entry, and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased? Total premium $ Purchase date (3) If $2,710 of salaries was paid in January, what was the balance in Salaries Payable at December 31,2021 ? Salaries payable $ (4) If $1,900 was received in January for services performed in January, what was the balance in Deferred Revenue at December 31,2021? Service revenue Assume the year-end is January 31, 2022. Prepare the closing entries at January 31,2022 , based on the information in the partial adjusted trial balance. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)Step by Step Solution
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