Question: Can someone explain what I am doing wrong? Thanks! Problem 4-2A (Part Level Submission) zheng Corporation had the foilewing selected transactions in the montsh of
Problem 4-2A (Part Level Submission) zheng Corporation had the foilewing selected transactions in the montsh of March. The company 1. The company has a 8%, S 12,240 bank loan piryable adjusts Rs accounts monthy due in one year. Interest is payable on the first day of each following manth and was last paid on March 1. The bank deposited this amount in Zheng's cash paid on Mondays for work end of March, the company eaned $370 interest on its investments. account on April 1 3. Zheng has five emplayees who each eam t emolayees whe each cam $260 a day, Selaries are normaly compieted Monday through Friday of the previous week. Salaries were lant paid on Monday, Harch 26. March 33 Saturday this year. Salaries will be paid next on Monday, Ape 2 company owed the utisty company $600 and the telephone compeny $340 for services received during the month. These bits were paid en Apri 10. (Hint: Use the Ublities E Expense account for the and belephone services.) tt bils its clierts for this amount on Aoni 4. On Agril 30, it collects $2,000 of this emount due. (a) Your answer partat, correct. Try-san. account titles are automatically indented when the amount is entered. Do not indent manually. Round all amounts tec each of the etowe situations, prepare the adjusting Sournal entry required at More, ,1. (Cred" the nearest doar. If no entry is required, select "No Entry" for the account tities and enter O for the amounts Date Account Titles and Explanation 1. Mar 31 interest Payable 2Mac31 restRecelv Interest Revenue Mac 33 Salaries Expense 4. Mac 31 Service Revenue
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