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Please answer 1 and 2 Which of the following is an example of an accrual of unrecorded revenues? A) A 2-year loan was signed with
Please answer 1 and 2
Which of the following is an example of an accrual of unrecorded revenues? A) A 2-year loan was signed with interest accruing monthly. B) Office supplies are purchased each month, but the account is not adjusted until the end of the month. C) Wages have been earned, but have not been paid at the end of the month. D) An attorney has performed work for a client, but has not billed the client, but has not billed the client yet. E) Equipment purchased will be beneficial for several years. Matelske Company completed the following transactions during August. The company owes $8, 900 for wages to be paid on September 6. The company performed a month-end inventory and counted office supplies valued at $2, 100. The beginning balance in the Supplies account was $1, 200. The company performed services valued at $7, 550. The company did not bill for the services until September 1. The company received $7,000 cash for services to be delivered in August and September. The company recorded unearned revenue upon receipt of cash._ Referring to Table 4-1, part (2), assuming that $2, 900 of purchases for the month were posted to the Supplies account, what adjusting entry would the Matelske Company make on August 31 Step by Step Solution
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