Prepare adjusting entries on December 31 for the following transactions. Omit explanations. (Lines provided below and on the next page) a. Accrued interest on notes receivable is $30. b. $1,000 of unearned service revenue has been recognized. c. Three years’ rent, totaling $45,000, was paid in advance at the beginning of the year. d. Services totaling $2,900 had been performed but not yet billed at the end of the year. e. Depreciation on equipment totaled $6,500 for the year. f. Supplies purchased totaled $850. By year end, only $250 of supplies remained. g. Salaries owed to employees at the end of the year total $960

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Prepare adjusting entries on December 31 for the following transactions. Omit explanations.

(Lines provided below and on the next page)

a. Accrued interest on notes receivable is $30.

b. $1,000 of unearned service revenue has been recognized.

c. Three years’ rent, totaling $45,000, was paid in advance at the beginning of the year.

d. Services totaling $2,900 had been performed but not yet billed at the end of the year.

e. Depreciation on equipment totaled $6,500 for the year.

f. Supplies purchased totaled $850. By year end, only $250 of supplies remained.

g. Salaries owed to employees at the end of the year total $960

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