Question: 5 6 7 a. 00 8 9 10 b. 11 12 13 c 345 14 15 16 75 17 Use the chart of accounts below
Use the chart of accounts below to prepare the following transactions. Use a 1 and a 2 for first two joumal entries Use b1 and b2 for b transactions and c1 and c2 for c transactions Tee Farms purchased a year's worth of insurance on March 1, 201x for $1800. Calculate the amount of insurance used in 20x1. 1) Prepare the joumal entry on March 1 for the purchase of insurance and 2) the adjusting entry on December 31 to record the use of insurance. a. Tee Farms has 3 employees who eam $200 per day. The employees worked Dec 29.30 and 31 . The employees will not be paid until January. 1) Calculate the salary accrual for December 31, 201x and 2) b. Joumalize the entry adjusting entry for the salary accrual c Tee Farms received $2,000 on December 15,201 for pruning services to be provided. As of December 31, 201, Tee Farms has provided $700 worth of pruning services. Joumalize the entry for 1 ) the receipt of payment for the pruning services and 2) the amount of pruning services eamed as of December 31
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