How would I record this Journal Entry? Paid wages $72,500. At year end wages payable total 17,300 Would I D Salaries Expense C Cash and then what do I do for the year end wages?

HerrLooks last paid its employees on Dec. 19 and will not pay them again until Jan. 2 of next year. The employees earned $575 during the Dec. 19-31period. Have a partial trial balance of wages expense of $8,750

Need to make adjusting entry. Bad debts are estimated to be 8% of total net credit sales (do not include rentals). I was taking number from sales journal (Sales Cr) but was told by instructor that was wrong. Which journal should I be looking at or should I look in ledger? Any help would be...

What is the effect of the adjusting entry for depreciation expense?

If I am adjusting my prepaid expense, I would debit my prepaid expenses for the amount I'm adjusting but what would I credit? I know normally you would credit prepaid insurance or whatever the expense is for but I do not have an account of pre-paid insurance.. is there such a thing of making an...