Question: The adjusting data for Crane Inc. listed below are available on December 31, the end of the annual period: 1. Interest has accrued on
The adjusting data for Crane Inc. listed below are available on December 31, the end of the annual period: 1. Interest has accrued on a $34,300,6% note payable, issued on May 1. 2. 3. On September 1, Rent Revenue was credited for $10,800, representing revenue from a sub-rental for a 6-month period beginning on that date. Purchase of supplies for $1,360 during the year was recorded in the Supplies Expense account. On December 31, supplies of $700 are on hand. (a) Prepare the adjusting entry for each item. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation 1. Debit Credit 2. 3.
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