Refer to the trial balance of ABC Enterprises as of December 31, 2023, and prepare adjusting entries
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Question:
- Refer to the trial balance of ABC Enterprises as of December 31, 2023, and prepare adjusting entries to reflect the following adjustments:
Account | Debit ($) | Credit ($) |
Cash | 10,000 | |
Accounts Receivable | 20,000 | |
Inventory | 30,000 | |
Prepaid Insurance | 5,000 | |
Accounts Payable | 8,000 | |
Salary Expense | 15,000 | |
Rent Expense | 5,000 | |
Sales Revenue | 50,000 |
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