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Record the the adjusting journal entry Carly's Corner Store will make for each of the following transactions. For each scenario, assume Carly records adjusting journal
Record the the adjusting journal entry Carly's Corner Store will make for each of the following transactions. For each scenario, assume Carly records adjusting journal entries at the end of each year. a. Carly posts advertisements for other businesses in the windows of her store. Carly receives $240 on March 1st for advertising services to be run throughout the next twelve months. b. Carly has $560 worth of office supplies on January 1st. During the year, she purchases $170 worth of office supplies. A count on December 31st reveals she has office supplies worth $390 remaining. c. Carly hires an employee on December 1st, who gets paid bi-weekly. On December 31st, Carly owes the employee $440, which will be paid on January 1st of the next year. d. On July 1st, Carly purchases a cooler costing $840. The cooler is expected to have a useful life of 4 years, and a salvage value of $0. e. On June 1st, Carly begins renting the upper floor of her corner store to her cousin. Her cousin agrees to pay $1,200 every two months. A. Dr. Cr. B. Dr. Cr. C. Dr. Cr. D. Dr. Cr. . E. Dr. Cr
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