From the adjusting entries below, prepare the reversing entry(ies) that would be needed for January 1. GENERAL JOURNAL Page 1 Date Post Description Ref. Debit Credit Adjusting Entries Dec. 31 Work in Process Inventory Factory Overhead 31 Interest Receivable Interest Revenue 17,333.00 17,333.00 2,367.00 2,367.00 31 Office Supplies Expense 6,319.00 Office Supplies 6,319.00 31 Factory Overhead 15,841.00 Factory Supplies 15,841.00 31 Bad Debt Expense 4,320.00 Allowance for Doubtful Accounts 4,320.00 31 Factory Overhead 1,927.00 Prepaid Insurance 1,927.00 31 Factory Overhead 6,210.00 Accumulated Depreciation-Factory Building 6,210.00 31 Factory Overhead 14,253.00 Accumulated Depreciation-Factory Equipment 14,253.00
From the adjusting entries below, prepare the reversing entry(ies) that would be needed for January 1. GENERAL JOURNAL Page 1 Date Post Description Ref. Debit Credit Adjusting Entries Dec. 31 Work in Process Inventory Factory Overhead 31 Interest Receivable Interest Revenue 17,333.00 17,333.00 2,367.00 2,367.00 31 Office Supplies Expense 6,319.00 Office Supplies 6,319.00 31 Factory Overhead 15,841.00 Factory Supplies 15,841.00 31 Bad Debt Expense 4,320.00 Allowance for Doubtful Accounts 4,320.00 31 Factory Overhead 1,927.00 Prepaid Insurance 1,927.00 31 Factory Overhead 6,210.00 Accumulated Depreciation-Factory Building 6,210.00 31 Factory Overhead 14,253.00 Accumulated Depreciation-Factory Equipment 14,253.00
Chapter10: Inventory
Section: Chapter Questions
Problem 7EB: Prepare journal entries to record the following transactions, assuming periodic inventory updating...
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