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Required information (The following information applies to the questions displayed below.] Stateline provides garbage pickup for other businesses. It is at the end of its
Required information (The following information applies to the questions displayed below.] Stateline provides garbage pickup for other businesses. It is at the end of its accounting year ending December 31. The following data that must be considered were developed from the company's records and related documents: a. On January 1 of the current year, the company purchased a new truck at a cost of $23,600. Depreciation estimated at $2,500 for the year has not been recorded for the current year. b. During the current year, office supplies amounting to $870 were purchased for cash. At the end of last year, the count of supplies remaining on hand was $230. The inventory of supplies counted on hand at the end of the current year was $390. c. On December 31 of the current year, Lanie's Garage completed repairs on one of the company's trucks at a cost of $1,160; the amount is not yet recorded by the company and by agreement will be paid during January of next year. d. On December 31 of the current year, the company completed service for an out-of-state company for $7,000 payable by the customer within 30 days. No cash has been collected, and no journal entry has been made for this transaction. 2. Prepare the adjusting entry required for each transaction at December 31 of the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar value) View transaction list Journal entry worksheet On January 1 of the current year, the company purchased a new truck at a cost of $23,600. Depreciation estimated at $2,500 for the year has not been recorded for the current year. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal
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