Question

Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances include the following account information:


The following information also is known:
a. Purchases of supplies in December total $4,500.
b. No insurance payments are made in December.
c. $11,000 is paid to employees during December for November salaries.
d. On November 1, a tenant pays Golden Eagle $4,500 in advance rent for the period November through January. Unearned Revenue is credited.

Required:
Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable and unearned revenue on December31.


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  • CreatedJuly 15, 2014
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