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hush67
Apr 25, 2009, 06:33 AM
How do you prepare an adjusting entrie for these following things. Omit explanations

1. Unrecorded interest accured on savings bond is $410.
2. Property taxes incurred but not paid or recorded amount to $800.
3. Legal services revenues of 4000 were collected in advance. By year end 900 was still unearned.
4.prepaid insurance had a $500 debit balance proir to adjustment. By year end, 60 percent was still unexpired.
5. Salaries inccured by year end but not yet paid or recorded amounted to $650.

pready
Apr 27, 2009, 05:15 PM
1. Interest Receivable and Interest Revenue
2. Property Tax expense, Property Tax payable
3. Legal Service Revenue, Unearned Legal Service Revenue
4. Insurance Expense, Perepaid Insurance
5. Salaries Expense, Salaries Payable