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Please answer fast I have quiz Question 1 (20 points) Saved Lone Star Enterprises' yearend is April 30. Based on an analysis of the unadjusted
Please answer fast I have quiz
Question 1 (20 points) Saved Lone Star Enterprises' yearend is April 30. Based on an analysis of the unadjusted trial balance at April 30, 2021, the following information was available for the preparation of adjusting entries (a) The Prepaid Insurance account shows a balance of $2,100 for a one-year insurance policy purchased on January 1, 2021 The office equipment was purchased August 31, 2015 for $16,000 and is expected to be used for 10 years and then be sold for $2,000 (b) (C) On February 23, 2021 a client paid $2,400 for services to be provided equally for three months beginning April 1, 2020. This amount was credited to the Uneamed Consulting Fees account The Office Supplies account has an unadjusted balance of $1,125. A count shows $365 of office supplies used during the year (d) (e) The one office employee is paid weekly, and on April 30, two days' wages at $125 per day have accrued. Required: Record annual adjusting journal entries on April 30, 2021 in the General Journal providedStep by Step Solution
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