On December 31, 2010, Cochran Company made the following proper year-end adjusting entries: Required 1. Prepare journal
Question:
Required
1. Prepare journal entries to record whatever reversing entries you think are appropriate.
2. Explain your reasoning for each reversingentry.
Transcribed Image Text:
Date Account Titles Debit Credit Dec. 3 Bad Debts Expense 31 Salaries Expense 31 Unearned Rent 31 Interest Expense 31 Rent Receivable 31 Depreciation Expense 3 nsurance Expense 31Interst Receivable (due February 1, 2012225 31 Office Supplies 31 Advances to Salespersons 31 Income Tax Expense 530 Allowance for Doubtful Accounts Salaries Payable Rent Revenue Interest Payable (due July 1, 2011) Rent Revenue Accumulated Depreciation Prepaid Insurance Interest Revenue Office Supplies Expense Salaries Expense Income Taxes Payable 530 940 1,230 220 310 5,100 312 940 1,230 220 310 5,100 312 225 100 300 4,300 100 300 4,300
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Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
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