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Question 8 of 8 Adjustment data: 1. Depreciation is $8,500 on buildings and $7,500 on equipment. (Both are operating expenses.) 2. Interest of $5,000 is
Question 8 of 8 Adjustment data: 1. Depreciation is $8,500 on buildings and $7,500 on equipment. (Both are operating expenses.) 2. Interest of $5,000 is due and unpaid on notes payable at December 31 . 3. Income tax due and unpaid at December 31 is $24,500. Other data: $15,500 of the notes payable are payable next year. (a) Journalize the adjusting entries. (If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts. Credit account titles are automatically indented when ampunt is entered. Do not indent manually. List all debit entries before credit entries.)
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