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Prepare the adjusting entries as of December 31 for each of these situations (Hint: use the Account List - click to pop open to
Prepare the adjusting entries as of December 31 for each of these situations (Hint: use the Account List - click to pop open to help you with your journal entries). a. The Store Supplies unadjusted trial balance amount was $1300. A physical count of store supplies showed $325 remaining. b. Two salespeople earn a salary of $275 per day and are paid weekly on the following Monday. December 31 falls on a Tuesday. c. The Inventory unadjusted trial balance amount was $125,000. A physical count of inventory showed $119,750 on hand. d. An administrative assistant gets paid weekly at a rate of $14 per hour. Paychecks are given every Monday for last weeks work. She worked 16 hours the last week in December. e. Annual depreciation on store fixtures is $1900. f. Annual depreciation on office equipment is $1850. Date a) Dec 31 b) Dec 31 c) Dec 31 d) Dec 31 e) Dec 31 f) Dec 31 Description Debit Credit
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