The following information has been taken from Out Loud Comedy Clubs unadjusted and adjusted trial balances at
Question:
Given this trial balance information, prepare the adjusting journal entries.
Transcribed Image Text:
Unadjusted Adjusted Debit Credit Debit Credit Prepaid insurance Interest payable... Insurance expense . $3,100 $2,350 $-0- $750 -0- 750 .... Interest expense. 750 -0- ......
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2017 Oct 31 Insurance Expense 750 ...View the full answer
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Related Book For
Fundamental Accounting Principles Volume 1
ISBN: 9781259259807
15th Canadian Edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
Question Posted:
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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