On August 31, 2016 the following data were accumulated to assist the accountant in preparing the adjusting entries for Potter Reality: 

a. Fees accrued but unbilled at August 31, 2016 were 1,700.

b. The supplies account balance on August 31 is 3,000. The supplies on hand at August 31 are 1,480.

c. Wages accrued but not paid at August 31 are 1,380.

d. The unearned rent account balance at August 31 is 7,200, representing the receipt of an advance payment on August 1 of three months' rent from tenants.

e. Depreciation of office equipment is 1,120.

REQUIRED:

(i) Journalize the adjusting entries required at August 31, 2016.

Answer rating: 100% (QA)

a Accrued Fees Fees accrued but unbilled at August 31 2016 were 1700 This means that services have b... View the full answer