The following information is available for Benson Inc. on July 31 for the month just ended....

 

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The following information is available for Benson Inc. on July 31 for the month just ended. a. $600 of property taxes have accrued and are unrecorded. b. $3,150 of the television advertising paid for in advance has been used. c. The estimated monthly depreciation on the equipment is $80. d. Of the $9,600 consulting fees Benson Inc. received in advance, $7,800 has not yet been earned. e. A building Benson Inc. owns is rented out for $2,000 each month. The current month's rent has not been received by month-end. Prepare the required adjusting entries at July 31, 2019. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). The following information is available for Benson Inc. on July 31 for the month just ended. a. $600 of property taxes have accrued and are unrecorded. b. $3,150 of the television advertising paid for in advance has been used. c. The estimated monthly depreciation on the equipment is $80. d. Of the $9,600 consulting fees Benson Inc. received in advance, $7,800 has not yet been earned. e. A building Benson Inc. owns is rented out for $2,000 each month. The current month's rent has not been received by month-end. Prepare the required adjusting entries at July 31, 2019. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan).

Answer rating: 100% (QA)

Certainly Here are the adjusting entries for Benson Inc on July 31 2019 1 Accrued Property Ta... View the full answer