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Prepare journal entries for the January transactions. Review the 'General Ledger' and the unadjusted 'Trial Balance' Tabs to see the effect of the transactions on
- Prepare journal entries for the January transactions. Review the 'General Ledger' and the unadjusted 'Trial Balance' Tabs to see the effect of the transactions on the account balances.Prepare journal entries for items (j)(n) from the bank reconciliation. j. The bank deducted $510 for an NSF check from a customer deposited on January 5. k. The check written January 6 has not cleared the bank, but the January 2 payment has cleared. l. The cash received and deposited on January 31 was not processed by the bank until February 1. m. The bank added $4 cash to the account for interest earned in January. n. The bank deducted $4 for service charges.
- Prepare adjusting journal entries on 1/31 in 'General Journal' Tab. (these are shown as items 15 to 21). o. Depreciation for the month is $150. p. Salaries and wages totaling $2,300 have not yet been recorded for January 16 to 31. q. Prepaid Rent will be fully used up by March 31. r. Supplies on hand at January 31 were $700. s. Received $500 invoice for January electricity charged on account to be paid in February but is not yet recorded. t. Interest on the promissory note of $53 for January has not yet been recorded or paid. u. Income tax of $1,000 on January income has not yet been recorded or paid.
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