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Adjusting Entries AD A AR AB TH Month End Adjusting Entries There are 10 applicable adjusting entries that need to be made as of the end of the month based on the information provided above. When recording these adjusting entries consider the following facts: 1. Interest expense will be recorded as an operating expense item on the income statement 2. Record the necessary adjusting entries related to pre-paid expense as separate journal entries, 3 When reviewing the supply room as of the end of the month, Mason Automation noted that it had $4.6 Million worth of supplies still on hand As of the end of the month, 3,500 cars were completed for Highland Inc. and the performance obligation had been met on 4, those 3,500 cars. As such, revenue was determined to be cared on those 3,500 vehicles and it was noted that each vehicle costed $5,000 to manufacture. (These journal entries are considered 2 of the 10 total adjusting entries), Mason Automation uses the balance sheet approach in estimating the allowance for doubtful accounts as of the end of the period. Based on industry average, Mason noted that it will use 7.5% of receivables as an estimation 6. There should be rwo separate entries related to payroll that is recorded. 5