Question: NEED HELP WITH THIS PROBLEMS!!!! There all together please read the information! Comprehensive Problem 3 Part 4: Note: You must complete parts 1, 2, and



Comprehensive Problem 3 Part 4: Note: You must complete parts 1, 2, and 3 before completing part 4 of this comprehensive problem. Based on the following selected data, journalize the adjusting entries as of December 31 of the current year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. a.Estimated uncollectible accounts at December 31, $16,000, based on an aging of accounts receivable The balance of Allowance for Doubtful Accounts at December 31 was $2,000 (debit). Description Date Debit Credit Dec. 31 b. The physical inventory on December 31 indicated an inventory shrinkage of $3,300. Date Description Debit Credit Dec. 31 c. Prepaid insurance expired during the year, $22,820. Date Description Debit Credit Dec. 31 d. Office supplies used during the year, $3,920. Description Credit Debit Date Dec. 31 e. Depreciation is computed as follows: Residual Acquisition Useful Life Depreciation Asset Cost Value Date in Years Method Used Buildings $0 January 2 26,000 January 3 $900,000 50 Double-declining-balance Office Equip. 246,000 Straight-line Store Equip. 112,000 12,000 July 1 10 Straight-line Date Description Debit Credit Dec. 31 f. A patent costing $48,000 when acquired on January 2 has a remaining legal life of 10 years and is expected to have value for 8 years. Date Description Debit Credit Dec. 31 8. The cost of mineral rights was $546,000. Of the estimated deposit of 910,000 tons of ore, 50,000 tons were mined and sold during the year. Description Credit Date Debit Dec. 31 h. Vacation pay expense for December, $10,500. Credit Debit Description Date Dec. 31 i. A product warranty was granted beginning December 1 and covering a one-year period. The estimatec cost is 4% of sales, which totaled $1,900,000 in December. Credit Description Debit Date Dec. 31 j. Interest was accrued on the note receivable received on October 17 ($100,000, 90-day, 9 % note ) . Assume 360 days per year Date Description Debit Credit Dec. 31
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