The ledger of Herrera, Inc. on March 31, 2017, indudes the following selected accounts before adjusting entries. Credit Debit Prepaid Insurance Supplies Equipment Unearned Service Revenue 2,400 1,900 32,900 8,100 An analysis of the accounts shows the following. Insurance expires at the rate of $200 per month. Supplies on hand total $1,000. The equipment depreciates $600 per month. 4. Duning March, services were performed for two-fifths of the unearned service revenue. 1. 2. 3.

The ledger of Herrera, Inc. on March 31, 2017, indudes the following selected accounts before adjusting entries. Credit Debit Prepaid Insurance Supplies Equipment Unearned Service Revenue 2,400 1,900 32,900 8,100 An analysis of the accounts shows the following. Insurance expires at the rate of $200 per month. Supplies on hand total $1,000. The equipment depreciates $600 per month. 4. Duning March, services were performed for two-fifths of the unearned service revenue. 1. 2. 3.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 6EA: On July 1, a client paid an advance payment (retainer) of $5,000 to cover future legal services....

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