the month. b. An insurance premium of $460 was paid for the coming year. Prepaid Insurance was debited. c. Wages of $3,275 were paid for the current month. d. Interest revenue of $290 was received for the current month. e. Accrued $670 of commissions payable to sales staff for the current month. f. Accrued $100 of interest expense at the end of the month. g. Received $2,675 on accounts receivable accrued at the end of the prior month. h. Purchased $700 of merchandise inventory from a supplier on account. i. Paid $140 of interest expense for the month. j. Accrued $840 of wages at the end of the current month. k. Paid $510 of accounts payable. Required: a. Indicate the financial statement effect b. Prepare the journal entry for the above transactions. Complete this question by entering your answers in the tabs below. Required A Required B Indicate the financial statement effect. Transaction or Adjustment a b b. C d. e f g g h. 1. Assets Supplies -3,500 Prepaid insurance -460 Balance Sheet Category Liabilities Stockholders' Equity Prepaid insurance -460 Income Statement Net Income Effect Supplies expense-3,500

the morth c. Woges of 51225 were puid for the curtent month d. Interest revcque of $290 was iectived for the current mont e. Accrued $670 of commistions paryabit to sales stalf for the current month f. Accrued $100 of trieteat erpente an the end of the month 9. Received 52675 on accounts beceivable accued at the end of the priar mordi. h. Purchaued 5700 of meichandise invertery from a supciser on accound 1. Pald 5140 of interest experse for toe month. 1. Accrued $840 of wanes at the end of the eximent entontt h. Paid $5%0 of accotintis payabile Required: a. inclicate the Iriancial stalertient effect b. Prepule the journat entry for the abowe transactions. Complete this queution by entering vour answers in the tobs below. Insicate the Antacial statement effect. Recoid the eflect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income staterners by entering the account name and amount and indicating whethey if is an addition (+) of subtraction () ( o inimn heading: frat trantaction is provided as an dustration A. During the monthy the Supples (asset) account was decbied 54.700 for supples purchased the cost of supphes used during the the manth b. An irsuranke premaim of $400 was paid foe the coming year Pregaid irkurance was dfebifed. c. Wages of 53.275 were paid for the currect morth. d. Interest revenue of $290 was recelved for the cirrent month e. Actrued $670 of commistans piyable to sates staff foe the curtent month 1. Accued $100 of interest empense at the end of the month g. Pecetved $2.675 en accounts recelvable accrued at the end of the prior month. h. Purchaied $700 of merchandise iventory frcen a suppler on account 1. Paid 51,00 of interest expense for the month 1. Acclued $840 of wages at the end of the current month. k. Paid $510 of axcouncs payable. Regutied a. Indicate the Ariancial statement effect. 6. Fretare the journal entry for the above transactions Camplete this question br entering your anwers in the tabs below. Inficals the finandal stateverie effed