Please choose account cash or receivable

8 Read Only Save a copy to edit. Save a copy fx ' > B DATE JOURNAL 3/1/20 SUPPLIES ACCOUNTS PAYABLE w..u\\.n......n., 3/1/20 PREPAID INSURANCE C DEBIT D CREDIT 3/1/20 UNEARNED REVENUE 3/ 1/20 NOTES PAYABLE 3/1/20 EQUIPMENT 3/31/20 3/31/20 3/31/20 3/31/20 3/31/20 N'OLDm'thUT-hUJNlohothmU'I-hUJN'OLDW'JC'U'l-hUJN'Oww _ -Ell _ _ _ -ma _ _ mm _ _ _ _ _ _ _ - _ _ _ _ _ _ _ _ _ _ _ _ E ADJUSTMENTS: SHOW THE ENTRIES FOR THE ADJUSTMENTS INDICATED. START ON LINE 20. ALL ADJUSTMENTS ARE FOR THE MONTH OF MARCH, 2020. FILL IN THE GREEN AREAS. These entries were already entered. Can you make the adjustments on 3/31? On March 1, 2020, Clark Company purchased supplies in the amount of $4,500. On March 31, Clark determined that there were $1,300 of supplies left. MAKE THE ADJUSTING ENTRY ON 3/31/20 TO RECORD SUPPLIES USED UP. On March 1, 2020, Clark Company paid for a one-year insurance policy at a cost of $3,000. On March 31, MAKE THE ADJUSTMENT TO RECORD THE INSURANCE USED UP. On March 1, 2020, Clark Company received payment for $4,200 of consulting services to be provided later in March. On 3/31, a total of 52,400 of services have been provided. Make the ADJUSTMENT TO RECORD THE REVENUE EARNED in March. On March 1, Clark Company borrowed $1,000 on a 6% note payable. The note must be paid off in three months. Record one month of interest that Clark owes on March 31. MAKE THE INTEREST ADJUSTMENT. On March 1, 2020, Clark purchased a piece of equipment for $12,000. The equipment has a 5-year life. The yearly depreciation for this asset is $2,400. MAKE THE ADJUSTMENT TO RECORD DEPRECIATION FOR THE MONTH OF MARCH