Question: Continuing with the transactions in 24., prepare the adjusting entries for the following transactions. All entries may not be used. 250 1. Depreciation Exp A/D

 Continuing with the transactions in 24., prepare the adjusting entries for

Continuing with the transactions in 24., prepare the adjusting entries for the following transactions. All entries may not be used. 250 1. Depreciation Exp A/D 250 3,000 2. Depreciation Exp A/D 3,000 240 Purchase office equipment for $6,000, fair market value = 6,500, estimated life 2 years. Pay $2,000 cash and sign a 30- day, 6%, note for $4,000. Prepare the adjusting entry for the interest accrual. 3. Interest Exp Int Payable 240 20 4. Interest Exp Int Payable 20 300 Purchase office equipment for $6,000, fair market value = 6,500, estimated life 2 years. Pay $2,000 cash and sign a 30-day, 6%, note for $4,000. Prepare the adjusting entry for depreciation 5. Office Supply Exp 300 Office Supplies 100 6. Office Supply Exp 100 Purchase $400 of office supplies on account. Prepare the adjusting entry for the supplies used if office supplies on hand total $100. Payroll for 10 days is $2,200. Prepare the adjusting entry for the wage accrual assuming the the month ends on a Monday the 30th, and the next payroll amounts to $2,200 for 10 days. Office Supplies 220 7. Wage Exp 220 Wage Payable 1980 8. Wage Exp 1980 Wage Payable

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