Question: accounting help? Exercise 3-7A Record adjusting entries (LO3-3) Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes
Exercise 3-7A Record adjusting entries (LO3-3) Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the following account information: Supplies Prepaid Insurance Salaries Payable Deferred Revenue November 30 Debit Credit $1,500 6,000 $10,000 2,000 The following information is known for the month of December. 1. Purchases of supplies during December total $3,500. Supplies on hand at the end of December equal $3,000. 2. No insurance payments are made in December. Insurance cost is $1,500 per month. 3. November salaries payable of $10,000 were paid to employees in December. Additional salaries for December owed at the end on the year are $15,000 4. On November 1, a tenant paid Golden Eagle $3,000 in advance rent for the period November through January, and Deferred Revenue was credited for the entire amount. Required: Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31 (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list X > 1 Record the adjusting entry for supplies on December 31. 2 Record the adjusting entry for insurance on December 31. 3 Record the adjusting entry for salaries on December 31. 4 Record the adjusting entry for tenants who paid rent in advance. Credit
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