Question: Name: A201 HMWK Chapter 3 Problem 4 Below are transactions for Johnston Company during 20x2. Record year-end adjusting entries interest to a. On October 1,
Name: A201 HMWK Chapter 3 Problem 4 Below are transactions for Johnston Company during 20x2. Record year-end adjusting entries interest to a. On October 1, 20x2. Johnston lends 58.000 ton er company. A note is signed with princip o to another company. A note is signed with principal and be received on September 30, 20x3. b. On November 1, 202 Johnston as its london 300 20X2, Johnston pays its landlord $3,000 representing rent for the months of November January. The payment is debited to prepaid rent for the entire amount. c. On August 1, 20x2, Johnston collects $12.000 in advance from another company that is renting a portion of Johnston's factory. The $12.000 represents one year's rent and the entire amount is credited to uncanned rem revenue. d. Depreciation on machinery is $4,500 for the year. e. Salaries for the year earned by employees but not paid to them or recorded are $4.000 Johnston begins the year with $1,000 in supplies. During the year, 54,500 in supplies are purchased and debited to supplies. At year-end, supplies costing $2,500 remain on hand. Required: Record the necessary adjusting entries at December 31, 20x2, for Johnston Company for each of the situations Assume that no financial statements were prepared during the year and no adjusting entries were recorded
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