Learning Task 2: Journalize the entries for the following adjustments on December 31, the ed of the accounting period: a. Prepaid insurance expired, P 6,000. b. Interest revenue Accrued, P 41,000. C. Unearned service revenue earned, P8,000. d. Depreciation, P 62,000 e. Employee salaries owed for two days of a five-day workweek: weekly payroll, P 90,000. Learning Task 2: Journalize the entries for the following adjustments on December 31, the end of the accounting period:

Learning Task 2: Journalize the entries for the following adjustments on December 31, the ed of the accounting period: a. Prepaid insurance expired, P 6,000. b. Interest revenue Accrued, P 41,000. C. Unearned service revenue earned, P8,000. d. Depreciation, P 62,000 e. Employee salaries owed for two days of a five-day workweek: weekly payroll, P 90,000. Learning Task 2: Journalize the entries for the following adjustments on December 31, the end of the accounting period:

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter21: Accounting For Accruals, Deferrals, And Reversing Entries

Section21.2: Deferrals

Problem 1WT

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