Question: Mayes Company records all prepayments in income statement accounts At

Mayes Company records all prepayments in income statement accounts. At April 30, the trial balance shows Supplies Expense $2,800, Service Revenue $9,200, and zero balances in related balance sheet accounts. Prepare the adjusting entries at April 30 assuming
(a) $700 of supplies on hand
(b) $3,000 of service revenue should be reported as unearned.


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  • CreatedJanuary 30, 2014
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