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Required: 1- Prepare the adjusting entry on December 31 for Apricot Co. 2- Show the effect of the adjusting entry on Income statement and balance

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Required: 1- Prepare the adjusting entry on December 31 for Apricot Co. 2- Show the effect of the adjusting entry on Income statement and balance sheet at the end of the Current calendar year (6 marks) Required: 1- Prepare the adjusting entry on December 31 for Apricot Co. 2- Show the effect of the adjusting entry on Income statement and balance sheet at the end of the Current calendar year (6 marks)

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