$12)$Sam Tech Co$.$ prepaid $$3,000$ for one year$$s worth of insurance on January $1$st

$($$$250/$month$).$ What is the necessary adjusting entry to record $$250$ worth of prepaid

insurance which expired at the end of January.

Debit Credit

If this adjustment is NOT made, the following are overstated, understated, or not

impacted:

Assets: $\_\_\_\_\_\_\_\_\_\_\_\_$ Revenue: $\_\_\_\_\_\_\_\_\_\_\_\_$

Liabilities: $\_\_\_\_\_\_\_\_\_\_\_\_$ Expense: $\_\_\_\_\_\_\_\_\_\_\_\_$

Stockholders$$ Equity: $\_\_\_\_\_\_\_\_\_\_\_\_$

$13)$Dunder Mifflin pays salaries of $$15,000$ per $5-$day work week. As of July $31,$ Dunder Mifflin

accrues $10,000$ of salaries. What is the necessary adjusting entry to record accrued

salaries?

Debit Credit

If this adjustment is NOT made, the following are overstated, understated, or not

impacted:

Assets: $\_\_\_\_\_\_\_\_\_\_\_\_$ Revenue: $\_\_\_\_\_\_\_\_\_\_\_\_$

Liabilities: $\_\_\_\_\_\_\_\_\_\_\_\_$ Expense: $\_\_\_\_\_\_\_\_\_\_\_\_$

Stockholders$$ Equity: $\_\_\_\_\_\_\_\_\_\_\_\_$