From each of the following December 31 adjusting journal entries, prepare the original journal entry that was recorded by supplying the blanks provided. The first one is already done for you. You may print and write the answers or encode the answers immediately. Prepaid Insurance 240 Insurance Expense 240 Supplies Expense 1,200 Supplies 1,200 Rent Revenue 6,300 Unearned Rent Revenues 6,300 Unearned Commissions Revenue 4,200 Commissions Revenue 4,200 Additional Information: Yearly insurance premium is effective and payable every March 1. Supplies are purchased every May 1 and are used evenly throughout the year. Annual rent is received every April 1. Commissions are collected every June 1 and earned evenly throughout the year. Original Journal Entries 1.(example) Debit: Insurance Expense 1,440 Credit: Cash 1,440 2. Debit: Supplies 1,800 Credit: Cash 1,800 3. Debit: __________________ Credit: __________________ 4. Debit: __________________ Credit: __________________
From each of the following December 31 adjusting journal entries, prepare the original journal entry that was recorded by supplying the blanks provided. The first one is already done for you. You may print and write the answers or encode the answers immediately. Prepaid Insurance 240 Insurance Expense 240 Supplies Expense 1,200 Supplies 1,200 Rent Revenue 6,300 Unearned Rent Revenues 6,300 Unearned Commissions Revenue 4,200 Commissions Revenue 4,200 Additional Information: Yearly insurance premium is effective and payable every March 1. Supplies are purchased every May 1 and are used evenly throughout the year. Annual rent is received every April 1. Commissions are collected every June 1 and earned evenly throughout the year. Original Journal Entries 1.(example) Debit: Insurance Expense 1,440 Credit: Cash 1,440 2. Debit: Supplies 1,800 Credit: Cash 1,800 3. Debit: __________________ Credit: __________________ 4. Debit: __________________ Credit: __________________
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
From each of the following December 31
- Prepaid Insurance 240
Insurance Expense 240
- Supplies Expense 1,200
Supplies 1,200
- Rent Revenue 6,300
Unearned Rent Revenues 6,300
- Unearned Commissions Revenue 4,200
Commissions Revenue 4,200
Additional Information:
- Yearly insurance premium is effective and payable every March 1.
- Supplies are purchased every May 1 and are used evenly throughout the year.
- Annual rent is received every April 1.
- Commissions are collected every June 1 and earned evenly throughout the year.
Original Journal Entries
1.(example)
Debit: Insurance Expense 1,440
Credit: Cash 1,440
2.
Debit: Supplies 1,800
Credit: Cash 1,800
3.
Debit: __________________
Credit: __________________
4.
Debit: __________________
Credit: __________________
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