M4-4 (Static) Recording Adjusting Journal Entries (LO 4-2) Required: Prepare the adjusting journal entries for the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account fleld.) 1. Supplies for office use were pyrchased during the year for $500, of which $100 remained on hand (unused) at year-end. 2. Interest of $250 on a note recélvable was earned at year-end, although collection of the interest is not due unti the following year. 4. At year-end, one-half of a $2,000 advertising project had been completed for a client, but nothing had been billed or collected. 5. Redeemed a gift card for $600 of services.
M4-4 (Static) Recording Adjusting Journal Entries (LO 4-2) Required: Prepare the adjusting journal entries for the following transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account fleld.) 1. Supplies for office use were pyrchased during the year for $500, of which $100 remained on hand (unused) at year-end. 2. Interest of $250 on a note recélvable was earned at year-end, although collection of the interest is not due unti the following year. 4. At year-end, one-half of a $2,000 advertising project had been completed for a client, but nothing had been billed or collected. 5. Redeemed a gift card for $600 of services.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:M4-4 (Static) Recording Adjusting Journal Entries (LO 4-2)
Required:
Prepare the adjusting journal entries for the following transactions. (If no entry is required for a transaction/event, select "No
Journal Entry Required" in the first account field.)
012819
1. Supplies for office use were pyrchased during the year for $500, of which $100 remained on hand (unused) at year-end.
2. Interest of $250 on a note recéivable was earned at year-end, although collection of the interest is not due until the
following year.
3. At year-end, salaries and wages payable of $3,600 had not been recorded or paid.
4. At year-end, one-half of a $2,000 advertising project had been completed for a client, but nothing had been billed or
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collected.
5. Redeemed a gift card for $600 of services.
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