I am so confused there is a journal sheet 1-6. The only thing I understand about the 1-6 is it connects to a-f. Sa. M&R Company provided $2,000 in services to customers in December, which are not yet recorded. Thosecustomers are expected to pay the company in January following the company's year-end.b. Wage expenses of $1,000 have been incurred but are not paid as of December 31.c. M&R Company has a $5,000 bank loan and has incurred (but not recorded) 8% interest expense of $400 for theyear ended December 31. The company will pay the $400 interest in cash on January 2 following the company'syear-end.d. M&R Company hired a firm that provided lawn services during December for $500. M&R will pay for December lawnservices on January 15 following the company's year-end.e. M&R Company has earned $200 in interest revenue from investments for the year ended December 31. The interestrevenue will be received on January 15 following the company's year-end.f. Salary expenses of $900 have been earned by supervisors but not paid as of December 31.Prepare year-end adjusting journal entries for M&R Company as of December 31 for each of the above separate cases.View transaction listJournal entry worksheet<123Transactionb.Note: Enter debits before credits.45Wage expenses of $1,000 have been incurred but are not paid as of December31.6General JournalDebitCredit> a. M&R Company provided $2,000 in services to customers in December, which are not yet recorded. Thosecustomers are expected to pay the company in January following the company's year-end.b. Wage expenses of $1,000 have been incurred but are not paid as of December 31.c. M&R Company has a $5,000 bank loan and has incurred (but not recorded) 8% interest expense of $400 for theyear ended December 31. The company will pay the $400 interest in cash on January 2 following the company'syear-end.d. M&R Company hired a firm that provided lawn services during December for $500. M&R will pay for December lawnservices on January 15 following the company's year-end.e. M&R Company has earned $200 in interest revenue from investments for the year ended December 31. The interestrevenue will be received on January 15 following the company's year-end.f. Salary expenses of $900 have been earned by supervisors but not paid as of December 31.epare year-end adjusting journal entries for M&R Company as of December 31 for each of the above separate cases.View transaction listJournal entry worksheet12Transactiona.3Note: Enter debits before credits.M&R Company provided $2,000 in services to customers in December. Thosecustomers are expected to pay the company sometime in January followingthe company's year-end.45Accounts receivableServices revenueGeneral Journal6DebitCredit

Adjusting entries is important for organizations to follow the accrual principle. These entries help…

a. M&R Company provided $2,000 in services to customers in December, which are not yet recorded. Those customers are expected to pay the company in January following the company's year-end. b. Wage expenses of $1,000 have been incurred but are not paid as of December 31. c. M&R Company has a $5,000 bank loan and has incurred (but not recorded) 8% interest expense of $400 for the year ended December 31. The company will pay the $400 interest in cash on January 2 following the company's year-end. d. M&R Company hired a firm that provided lawn services during December for $500. M&R will pay for December lawn services on January 15 following the company's year-end. e. M&R Company has earned $200 in interest revenue from investments for the year ended December 31. The interest revenue will be received on January 15 following the company's year-end. f. Salary expenses of $900 have been earned by supervisors but not paid as of December 31.

a. M&R Company provided $2,000 in services to customers in December, which are not yet recorded. Those customers are expected to pay the company in January following the company's year-end. b. Wage expenses of $1,000 have been incurred but are not paid as of December 31. c. M&R Company has a $5,000 bank loan and has incurred (but not recorded) 8% interest expense of $400 for the year ended December 31. The company will pay the $400 interest in cash on January 2 following the company's year-end. d. M&R Company hired a firm that provided lawn services during December for $500. M&R will pay for December lawn services on January 15 following the company's year-end. e. M&R Company has earned $200 in interest revenue from investments for the year ended December 31. The interest revenue will be received on January 15 following the company's year-end. f. Salary expenses of $900 have been earned by supervisors but not paid as of December 31.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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