Question
Record the following adjusting entries in the general journal, dated November 30th. November Adjusting Entries 1. On September 1st, the company purchased $1200.00 of prepaid
Record the following adjusting entries in the general journal, dated November 30th.
November Adjusting Entries 1. On September 1st, the company purchased $1200.00 of prepaid advertising, which covers 12 months of advertising services. Adjusting entries are recorded monthly. Record the advertising expense for the month of November. 2. Equipment purchased for $45,000 is depreciated monthly using the straight line method. The life of the equipment is 20 years and the equipment has no salvage value. Calculate and record the depreciation for the month of November. 3. The company owes $50,000 for a note payable. Interest on the note is due every September 30th and March 31st at an annual rate of 8%. Record the interest expense for the month of November.
This is what I have so far.
General Journal
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