topic 9

The following adjusting entries were prepared at the end of the accounting period. (Explanation are intentionally omitted) ADJUSTING ENTRIES REVERSING ENTRIES 1. Accrued Interest Income Interest Income P750 P750 2. Prepaid Insurance Insurance Expense P 500 P 500 3. Rent Expense Accrued Rent Expense P1,300 P1,300 4. Rent Income Unearned Rent Income P1,800 P1,800 5. Rent Expense Prepaid Rent P 650 P 650 6. Salaries and Wages Accrued Salaries and Wages P1,000 P1,000