Activity 5.a

Activity 5.a - Journalizing and Posting Transactions Journalize the adjusting entry needed at December 31 for each situation. Use the Chart of Accounts to review account names! A two year insurance policy for $2,640 was purchased on November of the current year. Record the transaction for the year ended December 31 Date Accounts and Explanation Debit Credit The adjusted balance of Office Supplies at Dec 11 53.700 and at year end the office supplies on hand totaled $1.400 Date Accounts and Explanation Debit Credit Employees corned 51,900 in salaries that will be paid next month Date Accounts and Explanation Debit Credit