Prepare adjusting entries (please note: they're independent): 1. On January 31, Printing Plus took an inventory...

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Prepare adjusting entries (please note: they're independent): 1. On January 31, Printing Plus took an inventory of its supplies and discovered that $100 of supplies had been used during the month. Supplies was $1,000 initially. 2. The equipment purchased on January 5 depreciated $75 during the month of January. 3. Reviewing the company bank statement, Printing Plus discovers $140 of interest earned during the month of January that was uncollected and unrecorded. 4. Employees earned $1,500 in salaries for the period of January 21-January 31 that had been unpaid and unrecorded. Prepare adjusting entries (please note: they're independent): 1. On January 31, Printing Plus took an inventory of its supplies and discovered that $100 of supplies had been used during the month. Supplies was $1,000 initially. 2. The equipment purchased on January 5 depreciated $75 during the month of January. 3. Reviewing the company bank statement, Printing Plus discovers $140 of interest earned during the month of January that was uncollected and unrecorded. 4. Employees earned $1,500 in salaries for the period of January 21-January 31 that had been unpaid and unrecorded.

Answer rating: 100% (QA)

Adjusting Entries Date Accounts Title Debit Credit Jan 31 Supplies Expense Supplies 2 ... View the full answer