Question: Do the following year end adjusting entries for Sturdy Construction using the grid below. Cells will expand as you use them: 1. Sturdy purchased a

 Do the following year end adjusting entries for Sturdy Construction using

Do the following year end adjusting entries for Sturdy Construction using the grid below. Cells will expand as you use them: 1. Sturdy purchased a work truck for $40,000 on July 1st. It is expected to last 5 years and have no salvage value. Depreciation is done on a straight line basis and has not been recorded for this year. 2. Sturdy borrowed the money to purchase the work truck. They borrowed the money from the Delaware national Bank at a rate of 6% on July 1st. No interest expense has been recorded. 3. Sturdy had paid their rent for one year on October 1st for a total of $6,000. No interest expense has been recorded for this year. 4. On December 31st they still owed their one employ $350 that will not be paid until January 5. They took a parts inventory. On the books it said they had $2,575 but when they counted there were only $2,432

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