Question
Prepare adjusting entries for the following transactions at the end of the fiscal year, September 30, 2022. Omit explanations. 1. Accrued interest on notes receivable
Prepare adjusting entries for the following transactions at the end of the fiscal year, September 30, 2022. Omit explanations. 1. Accrued interest on notes receivable is $95 at September 30. 2. Deferred revenues which have become earned at September 30 total $2,000. 3. Four months rent, totalling $60,000, was paid in advance on September 1, 2022. 4. Services totalling $2,100 had been performed but not yet billed at the end of September. 5. Depreciation of $20,000 on the companys equipment has not been recorded for the current year. 6. The balance in the Supplies account was $690 at the beginning of the year. The company purchased $3,200 of supplies during the year which were added to the Supplies account. A count on September 30 revealed only $100 in supplies remained. 7. Salaries owed to employees at the end of September total $1,000.
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