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Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. Excerpt from Unadjusted Trial Balance. Debits: Property Plant and Equipment 320,000; Prepaid Insurance 24,000; Supplies 7,500. Credits: Accumulated Depreciation 89,500; Unearned Service Revenue 3,000. supplies actual count at year end, $6,500 remaining unexpired insurance, $6,000 remaining unearned service revenue, $1,200 salaries owed to employees, $2,400 depreciation on property plant and equipment, $18,000

Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. Excerpt from Unadjusted Trial Balance. Debits: Property Plant and Equipment 320,000; Prepaid Insurance 24,000; Supplies 7,500. Credits: Accumulated Depreciation 89,500; Unearned Service Revenue 3,000. supplies actual count at year end, $6,500 remaining unexpired insurance, $6,000 remaining unearned service revenue, $1,200 salaries owed to employees, $2,400 depreciation on property plant and equipment, $18,000

FINANCIAL ACCOUNTING
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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Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data.
Excerpt from Unadjusted Trial Balance. Debits: Property Plant and Equipment 320,000; Prepaid Insurance 24,000; Supplies 7,500. Credits: Accumulated Depreciation 89,500; Unearned Service Revenue 3,000.
supplies actual count at year end, $6,500
remaining unexpired insurance, $6,000
remaining unearned service revenue, $1,200
salaries owed to employees, $2,400
depreciation on property plant and equipment, $18,000

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