Question: I need help with making a journal entry and t-account entry for the following transactions 9. Wages due to employees that had been previously recorded
I need help with making a journal entry and t-account entry for the following transactions

9. Wages due to employees that had been previously recorded as a liability are now paid in cash in the amount of $6,000 Wages Payable Cash Accounts Debit Credit 10. At year of end annual Mortgage payment made $10,000 principle, $35,000 interest Cash Mortgage Payable Accounts Debit Interest Expense Credit 18 8 6 8 8 8 5 8 1 1. End of year adjustment - One year insurance used: 8 8 8 8 Prepaid Insurance Insurance Expense Accounts Debit Credit 97 8 8 12. End of year adjustment - One year depreciation of CT machine purchased at the beginning of the year . Useful life for CT machine is 5 years. The salvage value is $15,000 - Please use Double Declining Balance depreciation here. 102 103 Plant and Equipment Accounts Debit Depreciation Expense Credit 104 105 106 107 8 8 9
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
