Yilmaz A.S. encountered the following situations: 1. Yilmaz collected $1,300 from a customer in 2020. 75%...

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Yilmaz A.S. encountered the following situations: 1. Yilmaz collected $1,300 from a customer in 2020. 75% of services was performed by the end of 2020. 2. Yilmaz paid $2,800 rent on December 1 for the 4 months starting December 1. 3. Yilmaz's employees worked 4 days by the end of 2020 but will only be paid in 2021. The total 5- day work week pay amounts to $1,200. 4. Yilmaz performed consulting services for a client in December 2020. On December 31, it had not billed the client for services provided of $1,200. 5. Yilmaz purchased $900 of supplies in 2020; at year-ed, $400 of supplies remain unused. 6. Yilmaz purchased equipment amounting $4,200 on August 1, 2020. The equipment is estimated to be used over 5 years. 7. Yilmaz borrowed $12,000 on October 1, 2020, signing an 8% one-year note payable. Use the chart of accounts below: 101 Cash 102 Accounts Receivable Assets YILMAZ A.S. Chart of Accounts Owner's Equity 301 S. Yilmaz, Capital 306 S. Yilmaz, Drawings 350 Income Summary 110 Supplies 122 Prepaid Rent Revenue 157 Equipment 400 Service Revenue 158 Accumulated Depreciation - Equipment Liabilities 201 Accounts Payable 203 Salaries Payable 204 Interest Payable 210 Unearned Service Revenue 250 Notes Payable Required: a. Journalize adjusting entries (omit explanations). Expenses 631 Supplies Expense 711 Depreciation Expense 726 Salaries Expense 729 Rent Expense 810 Utilities Expense 851 Interest Expense Yilmaz A.S. encountered the following situations: 1. Yilmaz collected $1,300 from a customer in 2020. 75% of services was performed by the end of 2020. 2. Yilmaz paid $2,800 rent on December 1 for the 4 months starting December 1. 3. Yilmaz's employees worked 4 days by the end of 2020 but will only be paid in 2021. The total 5- day work week pay amounts to $1,200. 4. Yilmaz performed consulting services for a client in December 2020. On December 31, it had not billed the client for services provided of $1,200. 5. Yilmaz purchased $900 of supplies in 2020; at year-ed, $400 of supplies remain unused. 6. Yilmaz purchased equipment amounting $4,200 on August 1, 2020. The equipment is estimated to be used over 5 years. 7. Yilmaz borrowed $12,000 on October 1, 2020, signing an 8% one-year note payable. Use the chart of accounts below: 101 Cash 102 Accounts Receivable Assets YILMAZ A.S. Chart of Accounts Owner's Equity 301 S. Yilmaz, Capital 306 S. Yilmaz, Drawings 350 Income Summary 110 Supplies 122 Prepaid Rent Revenue 157 Equipment 400 Service Revenue 158 Accumulated Depreciation - Equipment Liabilities 201 Accounts Payable 203 Salaries Payable 204 Interest Payable 210 Unearned Service Revenue 250 Notes Payable Required: a. Journalize adjusting entries (omit explanations). Expenses 631 Supplies Expense 711 Depreciation Expense 726 Salaries Expense 729 Rent Expense 810 Utilities Expense 851 Interest Expense

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To journalize the adjusting entries for Yilmaz AS based on the given situations we will use the char... View the full answer