Q3. The ledger of Thermite Corporation on June 30, 2021 includes the following selected accounts before the adjusting entries are prepared. Prepare adjusting entries for the new findings of different accounts for the second quarter of 2021

Account Title Debit (Tk.) Credit (Tk.)

Supplies 5,500 -

Prepaid Insurance 9,000 -

Equipment 30,000 -

Unearned Service Revenue - 6,000

Salaries Payable - 12,00

Note Payable - 27,000

Other Data:

a) Insurance expires at the rate of Tk.300 per month.

b) Annual depreciation on the equipment is Tk.4,000.

c) 1/3 of unearned service revenue was earned during the quarter.

d) Stock verification reveals Tk.3,000 supplies were used during the quarter.