Chapter 4, Problem E4A.27E

Journalizing reversing entries.

Learning Objective 7 Appendix 4A

Lucas Architects recorded the following adjusting entries as of December 31:

1. Service Revenue accrued $2,600.
2. Unearned Revenue that has been earned, $1,300.
3. Office Supplies on hand, $530. The balance of the Office Supplies account was $880.
4. Salaries owned to employees, $600.
5. One month of Prepaid rent has expired, $3,100.
6. Depreciation on Equipment, $1,075.