Question: please answer the following question complete: Saved Save & Exit Help Prepare adjusting journal entries, as needed for the following items. (If no entry is




Saved Save & Exit Help Prepare adjusting journal entries, as needed for the following items. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) a. The Supplies account shows a balance of $540, but a count of supplies reveals only $270 on hand at year-end, b. The company initially records the payments of all insurance premiums as prepaid insurance. The unadjusted trial balance at year end shows a balance of $590 in Prepaid Insurance. A review of insurance policies reveals that $120 of insurance is unexpired. c. Employees work Monday through Friday, and salaries of $2,700 per week are paid each Friday. The company's year-end falls on d. At year-end, the company received a utility bill for December's electricity usage of $220 that will be paid in early January View transaction list Journal entry worksheet 1 3 4 > The Supplies account shows a balance of $540, but a count of supplies reveals only $270 on hand at year-end Note: Enter debits before credits Transaction General Journal Debit Credit Racord entry Clear entry View general Journal The company initially records the payments of all insurance premiums as prepaid insurance. The unadjusted trial balance at year-end shows a balance of $590 in Prepaid Insurance. A review of insurance policies reveals that $120 of insurance is unexpired. Note: Enter debits before credits. General Journal Transaction b Debit Credit Record entry Clear entry View general Journal Journal entry worksheet
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