Question: calculate the adjusting enteries for #8 and 6 using the values given in the beginning balances Adjusting entry #8 30/6/20 The prepaid insurance balance is
calculate the adjusting enteries for #8 and 6 using the values given in the beginning balances



Adjusting entry #8 30/6/20 The prepaid insurance balance is for 8 months of insurance. Round to 2 decimal places. You need to calculate yourself Show workings in space below. Adjusting entry #6 30/6/20 The notes payable is due in 5 years. Interest is paid at the end of each year on 31 December. The interest rate is 8% p.a. Calculate the interest using months. Round to 2 decimal places. You need to calculate yourself Show workings in space below. Beginning Balances at 1 January 2020: Cash 10,900 Unearned revenue 4,000 Petty cash Accounts receivable Prepaid insurance 600 Notes payable 4,000 Contributed capital 8,000 Retained earnings 10,000 10,000 15,500 Computer equipment Accumulated depreciation Accounts payable 20,000 1,000 3,000
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