The following partial work sheet covers the affairs of Masanto and Company for the year ended June 30.

Required
1. Journalize the six adjusting entries.
2. Journalize the closing entries.
3. Journalize the reversing entry as of July 1, for the salaries that were accrued in the June adjusting entry.

Transcribed Image Text:

Masanto and Company For Year Ended June 30, 20- INCOME STATEMENT DEBIT BALANCE SHEET DEBIT 21,034.00 9,016.00 116,400.00 3,210.00 12,400.00 6 ACCOUNT NAME 7 Cash CREDIT 8 Accounts Receivable Merchandise Inventory 10 Prepaid Insurance 11 Delivery Equipment 12 Accumulated Depreciation, Dolivery Equipment 4,600.00 Store Equipment Accumulated Depreciation, Store Equipment 30,400.00 8,700.00 55,300.00 15 Accounts Payable 16 P.R. Masanto, Capital 17 PR. Masanto, Drawing 26,000.00 16,000.00 399,101.00 20 Purchases Returns and Allowances 21 Purchases Discounts 22 Freight In 9,600.00 6,800.00 14,000.00 46,000.00 10,600.00 2,700.00 1.459.00 Salary Expense 24 Delivery Equipment Expense 25 Supplies Expense 26 Miscellaneous Expense ncome Summary 112,200.00 116,400.00 29 Salarios Payablo 30 Insurance Expense 31 Depreciation Expense, Delivery Equipment 32 Depreciation Expense, Store Equipment 1,240.00 2,840.00 1.400.00 2,600.00 592,900.00 648,800.00 298,460.00 242,560.00 55.900.00 648,800.00 648,800.00 298,460.00 298,460.00 Not Income 55,900.00 Sheet1 Sheet2 Sheet3