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Question 3 [20 points] The following information is available for Holden Corp. on February 28 for the month just ended. a. A review of the
Question 3 [20 points] The following information is available for Holden Corp. on February 28 for the month just ended. a. A review of the $2,200 unadjusted balance in the supplies account shows a balance on hand at the end of the month of $1,950. b. The monthly depreciation on the building is $420. c. Property taxes of $500 have accrued but are unrecorded. d. Equipment purchased at the start of the month for $27,000 is estimated to have a useful life of five years. After this time, the equipment will be sold for $3,000. e. $4,250 of the $5,250 rent paid to Holden Corp. in advance has not yet been earned. Prepare the required adjusting entries at February 28, 2014. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). General Journal Page GJ8 Date Account/Explanation Debit Credit F. + - - + - +
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