Question: The data below concems acfustments to be made at Tea Leaf importers: Adjustments a. On November 1, 20X1, the firm signed a lease for a

 The data below concems acfustments to be made at Tea Leaf

The data below concems acfustments to be made at Tea Leaf importers: Adjustments a. On November 1, 20X1, the firm signed a lease for a warehouse and paid rent of $42,000 in advance for a six-month period. b. On December 31,201, an irventory of supplies showed that items costing $1.920 were on hand. The batance of the Supplies account was $9,885 c. A depreciation schedule for the firm's equipment shows that a total of $9.750 should be charged off as deprectation in 20X1. d. On December 31,201, the firm oved salaries of $12,200 that will not be paid until Janury 202 e. On December 31, 20X1, the firm owed the employei's social security (6.2 percent) and Medicare (1.45 percent) taxes on all accrued saiaries. 1. On September 1, 20X1, the firm recelved a six-month, 9 percent note for $6,500 from a customer with an overdue balance Required: 1. Record the adjusting entries in the general journal as of December 31, 20X1. 2. Record reversing entries in the general journal as of January 1,202 Analyze: Complete this question by entering your answers in the tabs below. antowers ta2 decimal placesi)

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