On December 31, 2007 Adams Company made the following adjusting entries for its annual accounting period:

To record interest on note payable due March 16, 2008.
Required
Prepare whatever reversing entries areappropriate.

Transcribed Image Text:

Depreciation Expense 2,400 Accumulated Depreciation To record depreciation on buildings. Interest Receivable 2,400 500 Interest Revenue To record interest on note receivable due January 28, 2008. Rent Expense 500 400 Prepaid Rent To record expired prepaid rent. 400 Interest Expense 620 Interest Payablıe 620