Question: Hi i need help on what is the answer for this adjusting entries with explanation please? . Thanks a lot ADJUSTMENTS: The business bought on

Hi i need help on what is the answer for this adjusting entries with explanation please? . Thanks a lot

ADJUSTMENTS: The business bought on 1-Sep-2020 the Equipment worth 758,000.00. This has an estimated useful life of 5 years with a Adjustment#1 scrap value equal to 8,000.00. Record under Adjustments the entry for depreciation. Adjustment#2 On 1-Apr-2020, the company borrowed 50,000.00 from BDO at 5% p.a. Record under Adjustments the accrual for the interest. Supplies counted at the end of the year was worth 29,540.00. Record under Adjustments the supplies that had been used or Adjustment#3 consumed. It is estimated that 2.5% of Net Sales or Net Revenues would not be collected. Record under Adjustments the estimated Adjustment#4 bad debts. Adjustment#5 Insurance covers the period 1-Nov-2020 to 31-Oct-2021. Record under Adjustments the amortization of Prepaid Insurance. Record under Adjustments the accrual for the following billings for Dec usage that had not yet been paid as of 31-Dec-2020: Adjustment#6 a) Meralco electric bill worth 3,938.00 and b) Maynilad water bill worth 2,526.00

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