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PROBLEM 4.11 Adjusting journal entries The annual accounting period for DEF Ltd ends on 30 June. Prepare adjusting entries for each of the following:
PROBLEM 4.11 Adjusting journal entries The annual accounting period for DEF Ltd ends on 30 June. Prepare adjusting entries for each of the following: 1 DEF was entitled to a commission of $2000 during June, but the commission will not be received until July. 2 Wages of $3000 for the five-day work period ending 3 July will be paid on 3 July. This is a Friday. 3 DEF Ltd has a $100 000 fixed deposit at 12 per cent, where interest is paid in arrears on 30 April and 30 November. 4 The office supplies account had an opening balance of $1000 on 1 July 2021. Supplies of $8000 were purchased during the year, and $900 of supplies are on hand on 30 June 2022.
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