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-   -   Adjustments entries (https://www.askmehelpdesk.com/showthread.php?t=122059)

  • Aug 22, 2007, 07:57 PM
    lisbettmatute
    Adjustments entries
    Make adjustment entries:

    1-Interest owed on a loan but not paid or recorded is $175. In other words, we owe interest due the fact that we borrowed money.


    2-Before adjustment, the general ledger (T-account) for office supplies had a balance of $350. At the end of the period, $70 of supplies were on hand.
  • Aug 22, 2007, 07:58 PM
    lisbettmatute
    Quote:

    Originally Posted by lisbettmatute
    Make adjustment entries:

    1-Interest owed on a loan but not paid or recorded is $175. In other words, we owe interest due the fact that we borrowed money.


    2-Before adjustment, the general ledger (T-account) for office supplies had a balance of $350. At the end of the period, $70 of supplies were on hand.

    3-Prepaid rent had a $1,000 normal balance in the general ledger (T-account) prior to adjustment. By year end, $500 had expired
  • Aug 22, 2007, 08:20 PM
    CaptainForest
    This sounds like homework to me.

    What do YOU think the answers are?

    Make an attempt at it first, then we will assist you.

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