Hopkins1988
Feb 11, 2012, 07:05 PM
Duncan Company records all prepayments in income statement accounts. At April 30, the trial balance shows Supplies Expense $3,133, Service Revenue $9,046, and zero balances in related balance sheet accounts. Prepare the adjusting entries at April 30 assuming (a) $1,599 of supplies on hand and (b) $3,350 of service revenue should be reported as unearned.