M&R Company provided $$2,000$ in services to customers in December, which are not yet recorded. Those customers are expected to pay the company in January following the companys year$-$end.

Wage expenses of $$1,000$ have been incurred but are not paid as of December $31.$

M&R Company has a $$5,000$ bank loan and has incurred $($but not recorded$)8\%$ interest expense of $$400$ for the year ended December $31.$ The company will pay the $$400$ interest in cash on January $2$ following the companys year$-$end.

M&R Company hired a firm that provided lawn services during December for $$500.$ M&R will pay for December lawn services on January $15$ following the companys year$-$end.

M&R Company has earned $$200$ in interest revenue from investments for the year ended December $31.$ The interest revenue will be received on January $15$ following the companys year$-$end.

Salary expenses of $$900$ have been earned by supervisors but not paid as of December $31.$

Prepare year$-$end adjusting journal entries for M&R Company as of December $31$ for each of the above separate cases.

Answer rating: 100% (QA)

1 Accrued Revenue for Services Provided in December but Not Recorded MR Company provided 2000 in ser... View the full answer