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Selected statement of financial position accounts for Gardner Company are presented below: Prepaid Insurance Unearned Sales Revenue Wages Payable Interest Receivable May 10 May 5
Selected statement of financial position accounts for Gardner Company are presented below: Prepaid Insurance Unearned Sales Revenue Wages Payable Interest Receivable May 10 May 5 4,300 9,500 5,400 1,250 2,250 825 Required: Analyze each account and recreate the journal entries that were made. For prepayments, be sure to include the original journal entry as well as the adjusting journal entry. Month-end is May 31, 2018 Prepaid Insurance: Prepaid Insurance May 5 Cash (Purchased insurance in advance) May 31 Insurance Expense Prepaid Insurance (Record expired insurance) Feedback Check My Work Wages Payable: Wages Expense May 31 Wages Payable (Record wages earned but not paid)
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