Question
Record adjusting entries. Depreciation for the year on the machinery is $5,600. Plumbing supplies remaining on hand at the end of the year equal $1,000.
Record adjusting entries. Depreciation for the year on the machinery is $5,600. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $7,600 paid in advance by customers, $5,800 of the work has been completed by the end of the year. 1.record the adjustment for depreciation. 2. record the adjustment for supplies. 3. record the adjustment for revenue earned.
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record closing entries: 1. record the entry to close the revenue account. 2. record the entry to close the expense accounts. 3. record the entry to close the divdends account. prepare a post-closing trial balance.
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