Zaragoza Company accumulates the following adjustment data at December 31.

1.		Supplies of $300 have been used.
2.		Salaries of $800 are unpaid.
3.		Prepaid insurance totaling $350 has expired.

For each of the above items do the following. Prepare adjusting entries for the items described above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No.	Account Titles and Explanation	Debit	Credit
1.
2.
3.

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List of Accounts

Indicate the status of accounts before adjustment (overstatement or understatement).

Item		Adjusting Entry		Accounts before Adjustment
1.				Revenues OverstatedAssets UnderstatedExpenses UnderstatedRevenues UnderstatedLiabilities UnderstatedLiabilities OverstatedAssets OverstatedExpenses Overstated
				Expenses OverstatedRevenues OverstatedAssets UnderstatedAssets OverstatedRevenues UnderstatedExpenses UnderstatedLiabilities UnderstatedLiabilities Overstated
2.				Assets UnderstatedAssets OverstatedExpenses OverstatedLiabilities UnderstatedExpenses UnderstatedRevenues UnderstatedRevenues OverstatedLiabilities Overstated
				Revenues UnderstatedExpenses OverstatedRevenues OverstatedLiabilities OverstatedAssets OverstatedAssets UnderstatedExpenses UnderstatedLiabilities Understated
3.				Liabilities OverstatedRevenues UnderstatedExpenses UnderstatedLiabilities UnderstatedAssets UnderstatedAssets OverstatedExpenses OverstatedRevenues Overstated
				Liabilities UnderstatedRevenues UnderstatedAssets UnderstatedLiabilities OverstatedAssets OverstatedExpenses OverstatedRevenues OverstatedExpenses Understated

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List of Accounts

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