12 13 14 15 16 17 Expo Company prepared the following adjusting entries at year end on December 31, 20X7: (a) Interest Expense Interest Payable 300 300 (b) Unearned Service Revenue Service Revenue.. 1,500 1,500 1,200 (c) Insurance Expense.. Prepaid Insurance 1,200 150 (d) Interest Receivable.. Interest Revenue. 150 250 (e) Supplies Expense.. Supplies... 250 3,000 (f) Wages Expense. Wages Payable . 3,000 In an effort to minimize errors in recording transactions, Expo Company utilizes reversing entries. Required: Prepare reversing entries.
12 13 14 15 16 17 Expo Company prepared the following adjusting entries at year end on December 31, 20X7: (a) Interest Expense Interest Payable 300 300 (b) Unearned Service Revenue Service Revenue.. 1,500 1,500 1,200 (c) Insurance Expense.. Prepaid Insurance 1,200 150 (d) Interest Receivable.. Interest Revenue. 150 250 (e) Supplies Expense.. Supplies... 250 3,000 (f) Wages Expense. Wages Payable . 3,000 In an effort to minimize errors in recording transactions, Expo Company utilizes reversing entries. Required: Prepare reversing entries.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:12
13
14
15
16
17
Expo Company prepared the following adjusting entries at year end on December 31,
20X7:
(a) Interest Expense
Interest Payable
300
300
(b) Unearned Service Revenue
Service Revenue..
1,500
1,500
(c) Insurance Expense..
Prepaid Insurance
1,200
1,200
150
(d) Interest Receivable..
Interest Revenue.
150
250
(e) Supplies Expense..
Supplies...
250
3,000
(f) Wages Expense.
Wages Payable .
3,000
In an effort to minimize errors in recording transactions, Expo Company utilizes
reversing entries.
Required: Prepare reversing entries.
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