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101 102 103) #ractice Assignment Gradebook ORION gnment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 3-16 a-b (Part Level Submission) Wildhorse Company has the following information available for accruals for the year ended December 31, 2020. The company adjusts its accounts annually. 1. 2. The December utility bill for $480 was unrecorded on December 31. Wildhorse paid the bill on January 11 Wildhorse is open 7 days a week and employees are paid a total of $5,180 every Monday for a 7-day (Monday-Sunday) workweek. December 31 is a Thursday, so employees will have worked 4 days (Monday, December 28- Thursday, December 31) that they have not been paid for by year-end. Employees will be paid next on January 4. Wildhorse signed a $48,000, 5% bank loan on November 1, 2019, due in 2 years. Interest is payable on the first day of each following month Wildhorse receives a fee from Pizza Shop next door for all pizzas sold to customers using Wildhorse's facility. The amount owed for December is $290, which Pizza Shop will pay on January 4. (Hint: Use the Service Revenue account.) Wildhorse rented some of its unused warehouse space to a client for $5,500 a month, payable the first day of the following month. It received the rent for the month of December on January 2 Collapse question part Your answer is correct. For each of the above transactions, prepare the journal entry to record the initial transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to o decimal places, .g. 5,275.) Date Account Titles and Explanation Debit Credit Dec. 31 utilities Expense en Assignment PRINTER VERSION BACK NEXT OURCES Your answer is correct For each of the above transactions, prepare the journal entry to record the initial transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to decimal places, e.g. 5,275.) Date Account Titles and Explanation Video) Debit Credit | Dec. 31 utilities Expense 480 1 || Part -b Part JI by Study T Accounts Payable (To record payable account) Dec. 31 salaries and Wages Expense | Salaries and Wages Paqable (To record accrued salaries salaries and Wages Payable Dec. 31 interest Expense T Interest Payable (To record interest used) TINI J i 200 SO ssignment > Open Assignment CALCULATOR FULL SCREEN PRINTE Dec. 31 Salaries and Wages Expense 2950 Salaries and Wages Payable (To record accrued salaries and wages) SSIGNMENT RESOURCES all 2019 Chap 3 Question 03 Question 09 Question 13 Brief Exercise 3-02 Do It Review 3.02 Exercise 3-OZ (Video) Exercise 3-08 Exercise 3-09 Exercise 3-15 (Part Level Submission) Exercise 3-16 a-b (Part Level Submission Dec. 31 interest Expense 200 De 2 901 1 Review Score Review Results by Study Objective 1 290 | Interest Payable (To record interest used) Dec. 31 Accounts Receivable Service Revenue (To record service account) Dec 31 Taccounts Receivable Rent Revenue (To record rent account) 5500 1 5500 Principles of Accounting I T CUNY York College Assignment Gradebook CUNY York College (ACC 101/102/10 Study & Practice ORION Open Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT RESOURCES (b) For each situation, prepare the journal entry to record the subsequent cash transaction in 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles Jan 11 oz. video 09 15 Part 16 a b (Part ults by Study (To record accrued salaries and wages) Jan. 1 gnment > Open Assignment CALCULATOR FULL SCREEN Jan. GNMENT RESOURCES 2019 Chap 3 Question 03 Question 02 Question 13 Brief Exercise 3-OZ Do It Review 3-02 Exercise 3-07. (Video) Exercise 3-08 Exercise 3-09 Exercise 3.15. (Part Level Submission) Exercise 3-16 -b (Part Level Submission) (To record accrued salaries and wages) Jan. 1 Jan. view Score view Results by Study Sective (To record accrued receivable) Jan. 2 SHOW LIST OF ACCOUNTS