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Service Mack adjusts its accounts at the end of the month. On November 30, adjusting entries are prepared: Depreciation expense for November Interest expense that

Service Mack adjusts its accounts at the end of the month. On November 30, adjusting entries are prepared:

  1. Depreciation expense for November

  2. Interest expense that has accrued during November

  3. Revenue earned during November that has not yet been billed to customers

  4. Salaries, payable to company employees that have accrued since the last payday in

    November

Adjusting entry

Revenue

Expenses

Net Income

Assets

Liabilities

Owners equity

a

b

c

d

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