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What are the adjusting journal entries in the general journal as of December 31, 2020? Record the following adjusting entries in general journal form as

What are the adjusting journal entries in the general journal as of December 31, 2020?

Record the following adjusting entries in general journal form as of December 31, 2020: Supplies on hand at the end of the year: $1259, Equipment shown on the 12/1 TB was purchased on 1/1/17, has a 7 year life, no salvage value and company uses double-declining balance method for its depreciation, Included in the truck balance is a fully depreciated truck for $6,500 and a new truck valued at $50,000 which was purchased on 1/1/17. The new truck has a 8-year life, no salvage value and the company uses the sum-of-the-years digits for its depreciation method on this asset, Dont forget to depreciate the new equipment, The patent was purchased on 1/1/2013 for $100,000 and its useful life is 20 years, $40,600 was paid on August 1, 2020 for six months rent, On 5/1/20, paid $38,500 for a 12-month insurance policy, Declared dividends of $28,000 on December 31, The fair market value of the securities (classified as marketable) is $16,500, 4% of Accounts Receivable is estimated to be uncollectible. Company uses the allowance method for estimating its uncollectible accounts, Accrued salaries expense of $6,000 and recorded Payroll tax expense on account of $2300, Had issued $300,000 of 5%, 10-year bond, dated 1/1/18 for $324,527 when the market rate was 4%. Interest is paid on June 30 and January 1 using the effective interest rate method. The June payment is included in the Dec. 1 TB. (Additional credit awarded if amortization table is included), One month has passed since the issuance of restricted stock., Interest on 30 days of note payable, dated 12/1/20 should be accrued. (Assume 360 days in a year for calculation), Accrued interest of 7.5% on long-term note payable of $175,000.,Income tax rate is 21%

Additional Information:

During 2020, the following additional transactions occurred: (Hint: these are already included in 12/1/20 TB, but may be needed for the Statement of Cash Flows)

  1. Issued 5,000 shares of common stock, $1 par, for $35,000 on June 30, 2020.
  2. Some equipment was sold (original cost $10,000, book value $6,000) for $7,000 (do not consider in your #2 AJE). Confirm with 12/1 Trial Balance!
  3. All amortization and depreciation is recorded once a year on December 31.

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