Question #$2$ Adjusting Entries

The following information was collected by the Alberta Company to be used in adjusting entries for the month of August.

a$.$ The ledger showed that the August $31$ inventory of computer supplies was $$1,720.$ An actual count of supplies showed that only $$500$ of supplies were on hand.

b$.$ The company paid $$3,600$ for a two$-$year insurance policy on August $1.$ The company records the amount of insurance used up every month with an adjusting entry.

c$.$ The amount of office supplies used during August is $$32,$$$0.$

d$.$ The company has done work for elients; this work has not been recorded in the accounting records and totals $$4,550.$ Payment will be received in November.

Question $$3-$ Closing Entries

Prepare the closing entries for Dewey's Accounting School from Question $44$