Journalize the adjusting entry needed at December 31 for eachsituation. Use the Chart of Accounts to review account names!Incurred interest expense of $1,100Dec. 31ateUsed office supplies of $1,700DateDec. 31DateDec. 31Accounts and ExplanationInterest ExpenseInterest PayableAccounts and ExplanationDebitAccounts and ExplanationDebit2200A two year insurance policy for $2,640 was purchased on November 1 of the current year. Record the transaction for theyear ended December 31.DebitCreditCredit2200Credit

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Description: Journalize the adjusting entry needed at December 31 for eachsituation. Use the Chart of Accounts to review account names!Incurred interest expense of $1,100Dec. 31ateUsed office supplies of $1,700DateDec. 31DateDec. 31Accounts and ExplanationIntere

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Journalize the adjusting entry needed at December 31 for each situation. Use the Chart of Accounts to review account names! Incurred interest expense of $1,100 Date W Dec. 31 Used office supplies of $1,700 Date Dec. 31 Accounts and Explanation Interest Expense Dec. 31 Interest Payable Accounts and Explanation Debit Accounts and Explanation Debit 2200 Debit Credit A two year insurance policy for $2,640 was purchased on November 1 of the current year. Record the transaction for the year ended December 31. Date Credit 2200 Credit

Journalize the adjusting entry needed at December 31 for each situation. Use the Chart of Accounts to review account names! Incurred interest expense of $1,100 Date W Dec. 31 Used office supplies of $1,700 Date Dec. 31 Accounts and Explanation Interest Expense Dec. 31 Interest Payable Accounts and Explanation Debit Accounts and Explanation Debit 2200 Debit Credit A two year insurance policy for $2,640 was purchased on November 1 of the current year. Record the transaction for the year ended December 31. Date Credit 2200 Credit

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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Jouralize the adjusting entries and post to the general ledger. Adjusting Entries: a, Expired insurance for the period , $500. b, Supplies on hand at the end of the month, $1,000.
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