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Required information [The following information applies to the questions displayed below] a. MER Company provided $4,000 in services to customers in December, which are not
Required information [The following information applies to the questions displayed below] a. MER Company provided $4,000 in services to customers in December, which are not yet recorded. Those customers are expected to pay the company in January following the company's year-end. b. Wage expenses of $3.000 have been incurred but are not paid as of December 31 c. MSR Company has a $7,000 bank loan and has incurred (out not recorded) 7% interest expense of $490 for the year ended December 31 . The company will pay the $490 interest in cash on January 2 following the company's yearend. d. M\&R Company hired a firm that provided lawn services during December for $700. MER will pay for December lawn services on January 15 following the company's year-end. e. MSR Company has earned $400 in interest revenue from investments for the year ended December 31 . The interest revenue will be recelved on January 15 following the company's year-end. t. Salary expenses of $1,300 have been earned by supervisors but not paid as of December 31 . cor each of the above separate cases, analyze each adjusting entry by showing its effects on the accounting equation-specifically. dentify the accounts and amounts (including (t) increase or () decrease) for each transaction or event
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