12 13 14 15 16 17 Expo Company prepared the following adjusting entries at year end on December 31, 20X7: (a) Interest Expense Interest Payable 300 300 (b) Unearned Service Revenue Service Revenue.. 1,500 1,500 1,200 (c) Insurance Expense.. Prepaid Insurance 1,200 150 (d) Interest Receivable.. Interest Revenue. 150 250 (e) Supplies Expense.. Supplies... 250 3,000 (f) Wages Expense. Wages Payable . 3,000 In an effort to minimize errors in recording transactions, Expo Company utilizes reversing entries. Required: Prepare reversing entries.
12 13 14 15 16 17 Expo Company prepared the following adjusting entries at year end on December 31, 20X7: (a) Interest Expense Interest Payable 300 300 (b) Unearned Service Revenue Service Revenue.. 1,500 1,500 1,200 (c) Insurance Expense.. Prepaid Insurance 1,200 150 (d) Interest Receivable.. Interest Revenue. 150 250 (e) Supplies Expense.. Supplies... 250 3,000 (f) Wages Expense. Wages Payable . 3,000 In an effort to minimize errors in recording transactions, Expo Company utilizes reversing entries. Required: Prepare reversing entries.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter22: End-of-fiscal-period Work For A Corporation
Section: Chapter Questions
Problem 1AP
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