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please fix my mistakes a. Depreciation on the companys equipment for the year is computed to be $14,000. b. The Prepaid Insurance account had a
please fix my mistakes a. Depreciation on the companys equipment for the year is computed to be $14,000. b. The Prepaid Insurance account had a $5,000 debit bolance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,900 of unexplfed insurance coverage remains: c. The Supplies account had a $330 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $389 of supplies avoilable. d. Two-thirds of the work related to $12,000 of cash received in advance was performed this period. e. The Prepaid Rent account had a $5,300 debit balance ot December 3 before adjusting for the costs of expired prepaid rent An analysis of the rental agreement showed that $3,400 of prepaid rent had expired 1. Wage expenses of $7.000 have been incurred but are not paid as of December 31 . Prepare adjusting journal entries for the year ended December 31 for each separate situation
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