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The ledger of Sheridan Company includes the following unadjusted balances: Prepaid Insurance $3,500, Service Revenue $55,600, and Salaries and Wages Expense $23,600. Adjusting entries are
The ledger of Sheridan Company includes the following unadjusted balances: Prepaid Insurance $3,500, Service Revenue $55,600, and Salaries and Wages Expense $23,600. Adjusting entries are required for (a) expired insurance $1,900, (b) services performed $2,000 are billed and not yet collected, and (c) accrued salaries payable $900.
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