Record the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by entering the account name and amount and indicating whether it is an addition ( ) or subtraction ( ) Column headings reflect the expanded balance sheet equation items that affect net income should not be shown as affecting stockholders' equity The first transaction is provided as an illustration During the month, the Supplies (asset) account was debited $4,700 for supplies purchased The cost of supplies used during the month was $3,500 Record the adjustment to properly reflect the amount of supplies used and supplies still on hand at the end of the month An insurance premium of $460 was paid for the coming year Prepaid Insurance was debited Wages of $3,275 were paid for the current month Interest revenue of $290 was received for the current month Accrued $670 of commissions payable to sales staff for the current month Accrued $100 of interest expense at the end of the month Received $2,675 on accounts receivable accrued at the end of the prior month Purchased $700 of merchandise inventory from a supplier on account Paid $140 of interest expense for the month Accrued $840 of wages at the end of the current month Paid $510 of accounts payable Required Indicate the financial statement effect Prepare the journal entry for the above transactions feccord the edfect, f any of the transaction entry or adjusting entry on the appropolate balance sheet category of on the income a During the month the Supplies fasseg occount war debiced $4 700 for supplies purthased The cost of supplies used durng the the month c Wages of $3275 were paid for the curent month d interest tevenue of 5290 was recelved for the currect month f Accrard 5100 of intecest expense at the end of the mondi 9 Pivcehed 52 675 on accounts recewable accrued at the end of the peior month h Puechased $700 of merchandse imventory from a supplier on account i Paid 5140 of merest empente for the morth 1 Accrued 5840 of wages at the end of the curtent month K Paid $510 of accounts poyable Required a Indicale the financul staterners effect b Prepate the journal entry for the above varsactions Complete this question by entering vetar answers in the tobs below Indicate the financial statement stifer

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Record the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by entering

Record the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by entering the account name and amount and indicating whether it is an addition (+) or subtraction (-). Column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting stockholders' equity. The first transaction is provided as an illustration.

During the month, the Supplies (asset) account was debited $4,700 for supplies purchased. The cost of supplies used during the month was $3,500. Record the adjustment to properly reflect the amount of supplies used and supplies still on hand at the end of the month.
An insurance premium of $460 was paid for the coming year. Prepaid Insurance was debited.
Wages of $3,275 were paid for the current month.
Interest revenue of $290 was received for the current month.
Accrued $670 of commissions payable to sales staff for the current month.
Accrued $100 of interest expense at the end of the month.
Received $2,675 on accounts receivable accrued at the end of the prior month.
Purchased $700 of merchandise inventory from a supplier on account
Paid $140 of interest expense for the month.
Accrued $840 of wages at the end of the current month.
Paid $510 of accounts payable.

Required:

Indicate the financial statement effect.
Prepare the journal entry for the above transactions.

feccord the edfect, f any. of the transaction entry or adjusting entry on the appropolate balance sheet category of on the income a. During the month the Supplies fasseg occount war debiced $4.700 for supplies purthased The cost of supplies used durng the the month c. Wages of $3275 were paid for the curent month. d. interest tevenue of 5290 was recelved for the currect month. f. Accrard 5100 of intecest expense at the end of the mondi 9. Pivcehed 52.675 on accounts recewable accrued at the end of the peior month. h. Puechased $700 of merchandse imventory from a supplier on account. i. Paid 5140 of merest empente for the morth. 1. Accrued 5840 of wages at the end of the curtent month. K. Paid $510 of accounts poyable. Required: a. Indicale the financul staterners effect. b. Prepate the journal entry for the above varsactions. Complete this question by entering vetar answers in the tobs below. Indicate the financial statement stifer