Record (write out in proper journal entry format) each of the adjusting entries. Adjusting & other entries: A) December 31: In reviewing the bank statement, we find that during December, $2,100 in revenue was incorrectly debited to inventory instead of cash (the credit was correct). B) December 31: Determine that we earned (but haven't received) $11,300 in interest revenue on our savings account during the year. C) December 31: We earned $10,900 in sweets sales revenue during December 2025 that was paid for in advance by our customers. The cost of those sweets was $4,900. Prepare entries to record both the sales and cost of goods sold. Record both entries.
Record (write out in proper journal entry format) each of the adjusting entries. Adjusting & other entries: A) December 31: In reviewing the bank statement, we find that during December, $2,100 in revenue was incorrectly debited to inventory instead of cash (the credit was correct). B) December 31: Determine that we earned (but haven't received) $11,300 in interest revenue on our savings account during the year. C) December 31: We earned $10,900 in sweets sales revenue during December 2025 that was paid for in advance by our customers. The cost of those sweets was $4,900. Prepare entries to record both the sales and cost of goods sold. Record both entries.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Record (write out in proper journal entry format) each of the
Adjusting & other entries:
A) December 31: In reviewing the bank statement, we find that during December, $2,100 in revenue was incorrectly debited to inventory instead of cash (the credit was correct).
B) December 31: Determine that we earned (but haven't received) $11,300 in interest revenue on our savings account during the year.
C) December 31: We earned $10,900 in sweets sales revenue during December 2025 that was paid for in advance by our customers. The cost of those sweets was $4,900. Prepare entries to record both the sales and cost of goods sold. Record both entries.
Transcribed Image Text:Sinfully Sweet Desserts
Startmg value Unadjusted Trial Balance
December 31, 2025
Accounts
Debit
Credit
Cash
Accounts Receivable
Allowance for Bad Debts
105,800
14,600
1,900
Inventory
Prepaid Advertising
Supplies
Accounts Payable
Unearned Revenue
10,000
1,200
4,200
14,200
12,000
7,000
72,900
28,800
74,200
Long-Term Note Payable
Common Stock
Retained Earnings
Sales Revenue
Cost of Goods Sold
Wages Expense
Utility Expense
Advertising Expense
40,200
10,700
3,400
20,900
211,000
Totals
211,000
Adjusting & Other Entries:
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