$2.$

Below are eight adjusting entries that need to be made at the end of the month. Provide

accurate journal entries for each of these adjustments.

# Adjustment

$1$ The salaries and wage Expense of $4,200$ for the month needs to be recognized

$2$ The interest expense for the month needs to be recognized

$3$ The supplies expense for the month needs to be recognized. A physical

inspection determines that supplies on hand on November $30$ are $250.$

$4$ The insurance expense for the month needs to be recognized

$5$ The depreciation expense for the refrigerators for the month needs to be

recognized

$6$ The depreciation expense for the IT system for the month needs to be

recognized

$7$ The bad debt expense for the period needs to be recognized. Spicemup BV

estimates that the amount of uncollectable accounts is $350.$

$8$ The fair value of the investments need to be updated. The fair value of the

portfolio at the closing of the market on November $30$ is $5,500.$

$3.$

Make all the required closing entries to close the books at the end of the month.

$4.$

Prepare the Income Statement for Spicemup BV for the month of November $2023.$

$5.$

Prepare the Statement of Financial Position for Spicemup BV per November $302023.$