View Policies Current Attempt in Progress The Wildhorse Gift shop signs a three-month, 9% note payable to help finance increases in inventory for the Christmas shopping season. The note is signed on November 1 in the amount of $40000. What is the adjusting entry to be made on December 31 for the interest expense accrued to that date, if no entries have been made previously for the interest? Interest Expense Interest Payable 900 900 Interest Expense 3600 Note Payable 3600 O Interest Expense 600 Interest Payable 600 Interest Expense 3600 Interest Payable 3600 Save for Later D Attempts: 0 of 1 used Submit Answer Snow co 26 Paid office expanse of $3,800. 30 Paid interest of $60 on the note payable signed on August 5. Journalize the August transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the onder presented in the problem) Date Account Titles and Explanation (Invested cash in the business). (Purchased supplies on account) V > > Debit Credit Attempts of i used Subtill Aviver Question 7 of 10 View Policies < Current Attempt in Progress You are presented with the following transactions for J. Green, a sole proprietorship established in the month of August: Aug. 2 The owner, Jason Green, invested $42,000 in the business. 2 Purchased supplies on account for $660. 5 Purchased equipment for $12,000 by signing a note payable due in three months. 9 14 Provided services of $18,000. Of this amount, $9,000 was received in cash. The balance was on account. Paid salaries of $1,400. 15 Paid Jason Green $5,200 for his personal use. 19 A customer paid $2,950 in advance for services to be provided next month. 22 Paid the balance owing for the supplies purchased on August 2. 25 Collected the $9,000 of the amount owing from the August 9 transaction. 26 Paid office expense of $3,800. 30 Paid interest of $60 on the note payable signed on August 5. -18 E Journalize the August transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit View Policies Current Attempt in Progress WU DELIVERY SERVICES Adjusted Trial Balance December 31, 2021 Debit Credit Accounts Payable Accounts Receivable $3,420 $1,800 Accumulated Depreciation - Equipment 14,928 Cash 12,700 D. Wu, Capital 7,900 D. Wu, Drawings 1,000 Equipment 31,100 Depreciation Expense 1,200 Insurance Expense 1,150 Interest Expense 240 Interest Payable 150 Prepaid Insurance 1,900 Salaries Expense 12,000 Salaries Payable 1,200 Service Revenue 39,662 Supplies 660 Supplies Expense 1,560 Repairs Expense 890 Utilities Expense 1.060 $67,260 $67.260 Prepare closing entries for Wu Delivery Services. (Credit account titles are automatically indented when the amount indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 3. On July 1, 2021, Grant signed a note payable for $11,500. The loan agreement stated that interest was 4%. 4. Depreciation for the computer and printing equipment was $2,000 for the year. 5. 6. 7. At the beginning of the year, Grant's had $1,060 of supplies on hand. During the year, $1,310 of supplies were purchased. A count at the end of the year indicated that $690 of supplies was left on December 31. Between December 28 and December 31 inclusive (4 days), three employees worked eight-hour shifts at $17.25 per hour. The employees will be paid for this time worked on January 10. On December 31, it was determined that $4,600 of services had been provided but the bookkeeper did not record it. No. Account Titles and Explanation 1. 2. 3. 5. 6. Debit Credit Attempts: 0 of 1 used Submit Answe Question 10 of 10 -18 Vehicles 21,200 Merchandise inventory 8,500 Notes receivable (due February 1, 2023) 5,200 Determine which accounts are current assets and prepare the current assets section of the balance sheet as at December 31, 2021, with the accounts in order of decreasing liquidity. (List Current Assets in order of decreasing liquidity) SHERIDAN COMPANY Balance Sheet (Partial) $ For each account that is not classifed as a current asset, indicate how it would be classifed on the balance sheet (Enter account name only and do not provide descriptive information SHERIDAN COMPANY Balance Sheet (Partial) Assets Liabilities and Owner's Equity Attempts of Lise Aner Asses delaunchild 60206-43b-305-4011/ 343dd9b6lqgnation/8 Question 9 of 10 165780 -/8 E Prepare closing entries for Wu Delivery Services. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Dec. 31 Dec. 31 (To close revenue account) Dec. 31 (To close expense accounts) Dec. 31 (To close income summary) (To close drawings account