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The ledger of Monty Company includes the following unadjusted balances: Prepaid Insurance $3,400, Service Revenue $56,900, and Salaries and Wages Expense $23,800. Adjusting entries are
The ledger of Monty Company includes the following unadjusted balances: Prepaid Insurance $3,400, Service Revenue $56,900, and Salaries and Wages Expense $23,800. Adjusting entries are required for (a) expired insurance $1,900; (b) services performed $1,500, but unbilled and uncollected; and (c) accrued salaries payable $800. Enter the unadjusted balances and adjustments into a worksheet and complete the worksheet for all accounts.
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