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Record adjusting entries for the following transactions (all entries were prepared on December 31: a. There were $1,200 of Supplies on December 1. The secretary
Record adjusting entries for the following transactions (all entries were prepared on December 31": a. There were $1,200 of Supplies on December 1". The secretary counted the supplies on December 31" and determined that $700 worth of supplies were left on hand. b. The company employees worked 3 days at the end of the month that will be included in their first pay cheque in January. The total amount of money due to the employees at the end of the December (for the 3 days worked) is $2,300. c. Amortization for the packaging equipment for December is $1,500. d. $40,000 was collected from patrons earlier this month for concert tickets for 2 concerts one on December 31" and the other on January 1st. The entry to record that one concert has taken place before the month end is required. Date Account PR Debit Credit
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