Learning Task 2: Journalize the entries for the following adjustments on December 31, the ed a the accounting period: a. Prepaid insurance expired, P 6,000. b. Interest revenue Accrued, P 41,000. C. Unearned service revenue earned, P8,000. d. Depreciation, P 62,000 e. Employee salaries owed for two days of a five-day workweek: weekly payroll, P 90,000. Learning Task 2: Journalize the entries for the following adjustments on December 31, the end of the accounting period: Account Titles Debit Credit a.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Learning Task 2: Journalize the entries for the following adjustments on December 31, the ed of
the accounting period:
a. Prepaid insurance expired, P 6,000.
b. Interest revenue Accrued, P 41,000.
C. Unearned service revenue earned, P8,000.
d. Depreciation, P 62,000
e. Employee salaries owed for two days of a five-day workweek: weekly payroll, P 90,000.
Learning Task 2: Journalize the entries for the following adjustments on December 31, the end
of the accounting period:
Account Titles
Debit
Credit
a.
b.
C.
d.
e.
f.
T
Transcribed Image Text:Learning Task 2: Journalize the entries for the following adjustments on December 31, the ed of the accounting period: a. Prepaid insurance expired, P 6,000. b. Interest revenue Accrued, P 41,000. C. Unearned service revenue earned, P8,000. d. Depreciation, P 62,000 e. Employee salaries owed for two days of a five-day workweek: weekly payroll, P 90,000. Learning Task 2: Journalize the entries for the following adjustments on December 31, the end of the accounting period: Account Titles Debit Credit a. b. C. d. e. f. T
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