Prepare the following adjusting entries At the end of January, CK Company had supplies in
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Question:
- At the end of January, CK Company had supplies in the amount of $4,500.
There is a salary debt as of January 31, 2020 of $800.
Equipment depreciation is $1,575.
At the end of January, the month of the prepaid insurance account, paid for six months, was used up.
The account balances before adjustments are as follows:
- Supplies - $5,000
- Salary Expense $620,000
- Equipment - $36,000
- Prepaid insurance - $25,000
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