How would I Journalize and post the adjusting entries, using the following adjustment data:
a. Merchandise inventory on August 31 $124,115
b. Insurance expired during the year $1,250
c. Store supplies on hand on August 31 $975
d. Depreciation for the current year $7,400
e. Accrued salaries on August 31:
Sales Salaries $350
Office Salaries $180 $530