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Questions for 3-18 and 3-19 thank you CHAPTER 3 Adjusting Accounts for Financial Statements QS 3-18 Interpreting adjusting entries LO4, 6 The following information has

Questions for 3-18 and 3-19 thank you

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CHAPTER 3 Adjusting Accounts for Financial Statements QS 3-18 Interpreting adjusting entries LO4, 6 The following information has been taken from Out Loud Comedy Club's unadjusted and adjusted trial balances at October 31, 2020. Unadjusted Adjusted Debit Credit Debit Credit Prepaid insurance $3,100 $2,350 Interest payable ....... $ - 0- $750 Insurance expense . . .... -0- 750 Interest expense......... . .... -0- 750 Given this trial balance information, prepare the adjusting journal entries. *QS 3-19 Correcting entries LO8 The following entry was recorded on November 14. Nov. 14 Salaries Expense .......... 14,800 Cash 14,800 To record supplies expense. At month-end, it was discovered that Supplies Expense should have been debited on November 14 instead of Salaries Expense. Prepare the correcting entry required on November 30

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