Q1. Prepare general journal entries to record the adjustments below as of December 31 for the Perry Corporation.

Q2. Review the adjusting journal entries (AJEs) above. Identify each journal entry account as either a balance sheet account or an income statement account. In total there are (3 / _________/ 5) balance sheet accounts and (3 / _________/ 5 ) income statement accounts. Each AJE includes (_________/ 2 / 3) balance sheet account and (_____ / 2 / 3) income statement account and (always / sometimes / ________) includes the cash account.
Q3. Prepare part of the December 31 adjusted trial balance for the expense accounts below.

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Perry Corporation GENERAL JOURNAL Date AJE #1 The accountant completed the depreciation schedule that showed total depreciation expense of $10,520 for the year. The depreciation expense account already has a balance of $8,500. Record the remaining depreciation expense for the year Dec 31 Accounts Debit Credit AJE #2 Commissions for December of $22,000 will be paid to Perry's sales staff on January 5 of next year. The commissions payable account has a zero balance. Record commission expense for December AJE #3 The company loaned $20,000 to a customer on July 1 for one year at 890 interest. The customer will pay the principal and interest on the loan on June 30 of next year. No interest in connection with this loan has been recorded. Record interest expense for the vear AJE #4 On July 1 Perry paid an entire year's rent of $14,000 for a warehouse, which the bookkeeper recorded as Prepaid Rent. Record rent expense for the year ADJUSTED TRIAL BALANCE -Dec 31 No. Account Debit Credit 500 Depreciation expense 510 Commission expense 520 Interest expense 530 Rent expense