Journalize the following adjusting entries that were included on the
Journalize the following adjusting entries that were included on the work sheet for the month ended December 31.
Dec. 31 Salaries for three days are unpaid at December 31, $ 2,700. Salaries are $ 4,500 for a five-day week.
31 Insurance was bought on September 1 for $ 3,600 for 12 months’ coverage. Four months’ coverage has expired, $ 1,200.
31 Depreciation for the month on equipment, $ 50, based on an asset costing $ 3,200 with a trade- in value of $ 200 and an estimated life of five years.
31 The balance in supplies before adjustment totaled $ 154. The amount of supplies on hand at the end of the year is $ 72.

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help