Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. Debit (DR) Credit (CR) Property Plant & Equipment $320,000 Accumulated $89,500 Depreciation Prepaid Insurance $24,000 Supplies $7,500 Salaries Payable $6,700 Unearned Service $3,000 Revenue • Supplies actual count at year end, $6500; DR CR Remaining unexpired insurance, $6000 DR CR • Remaining unearned service revenue, $1200 DR CR Salaries owed to employees, $2400 DR CR Depreciation on property plant and equipment, $18,000 DR CR

Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. Debit (DR) Credit (CR) Property Plant & Equipment $320,000 Accumulated $89,500 Depreciation Prepaid Insurance $24,000 Supplies $7,500 Salaries Payable $6,700 Unearned Service $3,000 Revenue • Supplies actual count at year end, $6500; DR CR Remaining unexpired insurance, $6000 DR CR • Remaining unearned service revenue, $1200 DR CR Salaries owed to employees, $2400 DR CR Depreciation on property plant and equipment, $18,000 DR CR

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 13PA: Prepare adjusting journal entries, as needed, considering the account balances excerpted from the...

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